Saudi Gazette report

JEDDAH — The Saudi Council of Economic and Development Affairs (CEDA) meeting reviewed a report of the Ministry of Economy and Planning that highlighted the Kingdom's economic expansion for the fifth consecutive quarter, driven by strong performance in all sectors, particularly non-oil activities.

The ministry analyzed major global economies and the national economic outlook in its report.

The CEDA meeting, held via a video conference, discussed key economic reports and strategic initiatives. It reviewed a presentation from the Ministry of Finance on the quarterly performance report of the state's general budget for the fiscal year 2025.

The report provided a detailed breakdown of financial performance through the second quarter, including indicators for revenues, expenditures, and public debt. Its findings highlighted the government's ongoing support for development and service projects and its implementation of reforms to achieve financial sustainability and diversify income sources.

The meeting reviewed a presentation from the Saudi Fund for Development and the King Salman Humanitarian Aid and Relief Center (KSrelief) on the role of foreign aid in promoting local content and exports.

The presentation, which underscored the Kingdom's leading role in development and relief efforts, provided an overview of the geographical and sectoral distribution of the total foreign aid.

The council discussed several items on its agenda, including the project to develop the legislative framework for customs procedures and the organizational structure of the King Abdulaziz Foundation for Research and Archives (Darah).

The meeting also covered a range of periodic reports, including the semi-annual report of the ministerial committee for the social support and benefits system, the quarterly report from the permanent committee for price monitoring, the quarterly bulletin on real estate price index statistics, the monthly executive summaries of foreign trade, the consumer price index, and wholesale prices, and the basic reports on which these summaries were based.

The council concluded the meeting by taking the necessary decisions and recommendations on these topics.