Council of Economic and Development Affairs Reviews Economic Resilience and Fiscal Policies in Virtual Meeting

Riyadh: The Council of Economic and Development Affairs held a meeting via videoconference. At the outset, the council reviewed the Ministry of Economy and Planning's quarterly report, which covered developments in the global economy and the impact of geopolitical challenges and fluctuations in global markets on growth prospects. According to Saudi Press Agency, the report also addressed the latest updates on the national economy and future projections through 2027, highlighting the economy's high resilience in the face of global challenges. Various statistics and economic indicators point to remarkable growth, reinforcing the Kingdom's position among the world's fastest-growing and most stable economies. The council also reviewed the report on the performance of the state's general budget for the fourth quarter of fiscal year 2025, submitted by the Ministry of Finance. The report provided a comprehensive overview of financial performance during the period, including developments in revenues and expenditure s, levels of public debt, and an analysis of local and global economic variables and their impact on financial indicators. The findings highlighted the continued adoption of a balanced and flexible fiscal policy that supports economic growth and strengthens financial sustainability in the medium and long term. It was achieved through disciplined, efficient financial instruments, maintaining counter-cyclical spending on developmental programs and projects with economic and social impact, contributing to improved quality of public services, stimulating investment, and reinforcing the robustness of public finances. Moreover, the council discussed a number of procedural matters, including the draft Government Tenders and Procurement Law, the draft Space Law, and a briefing on the assignment given to the Council of Universities' Affairs to update the necessary regulations for the governance of public and private universities and health colleges, as well as to oversee and monitor them periodically. The update als o covers compliance processes at public and private universities and health colleges, in line with quality standards approved by the Council of Universities' Affairs. Additionally, the council was briefed on the quarterly report of the Real Estate Price Index, along with summaries of the monthly Consumer Price Index (CPI) and Wholesale Price Index (WPI) reports, and the core reports on which the summaries were based. The council took the necessary decisions and recommendations on these matters.