Economic Council reviews price stability amid intensifying global pressures

On Monday, a video conference took place involving the Council of Economic and Development Affairs (CEDA) to discuss the Ministry of Economy and Planning's monthly report. The report examined global economic growth, with a particular focus on how Saudi Arabia's strategic position supports international price stability by ensuring uninterrupted energy supplies.

The Kingdom's active role in maintaining global economic stability was underscored. The report assessed the impact of geopolitical changes, revealing that Saudi Arabia's economic indicators suggest resilience despite global pressures. This was attributed to sound economic policies that have kept inflation in check and preserved purchasing power.

The Purchasing Managers' Index (PMI) hit 55.3 points, the highest since February 2016, signifying increasing business confidence and the kingdom's adaptability as part of Saudi Vision 2030.

Additionally, the council reviewed the Ministry of Health's presentation on advancements in their health transformation plan. This included the transfer of health clusters to the Health Holding Company, with plans to complete the process by early 2027. This move aims to separate health service provision from regulation and financing, with the ministry overseeing the sector's regulation and the Health Holding Company delivering services through 20 health clusters.

The plan has already shown improvements in access to care and quality. The council also considered progress reports on directives to enhance the startup and venture capital sector, the National Program to Combat Commercial Concealment, and various executive summaries on economic indicators such as the CPI, WPI, GDP, and foreign trade. Decisions and recommendations were subsequently made by the council.