Council of Economic and Development Affairs Addresses Economic Issues

The Council of Economic and Development Affairs conducted a virtual meeting where several important topics were discussed:

1. The Ministry of Economy and Planning presented an analysis of local and international economic developments, including key economic indicators and global economic challenges.
2. Efforts and policies aimed at ensuring the availability of affordable commodities in the local market and reducing monopolistic practices in the private sector were highlighted.
3. The council examined the local credit situation, noting a strong demand for credit facilities in the private and real estate sectors, despite rising interest rates.
4. Reports from international financial institutions were discussed, praising the Kingdom for its economic stability and growth amid global challenges.
5. Progress in mega projects, such as Ad Diriyah, NEOM, Red Sea, and ROSHN, was presented by the Public Investment Fund, with details on project developments and timelines. This aligns with the Saudi Vision 2030 goals.
6. The opening of the first phase of the Red Sea Project and the commencement of flights from the Red Sea International Airport through the temporary terminal were welcomed.
7. A report from the Project Management Office at the Secretariat of the Economic and Development Affairs Council was reviewed. It included decisions and recommendations made by the council in the third quarter of 2023, showcasing significant progress in implementing tasks and duties by council-represented agencies, with over 98% achievement in performance indicators.

The council subsequently made necessary decisions and recommendations on these matters.