The Saudi economy continues to exhibit resilience, marked by sustained growth in non-oil sectors and a remarkably low annual inflation rate of 1.6 percent, according to an official report.
This positive outlook was underscored during the latest meeting of the Council of Economic and Development Affairs (CEDA), where crucial reports and topics were discussed.
One key highlight was the Ministry of Economy and Planning’s quarterly analysis of international and local economic performance for the first quarter of 2024. This analysis delved into global economic growth trends and their potential implications for the Kingdom.
CEDA also reviewed the Strategic Management Office’s 2023 report, which showcased the significant progress made toward achieving the targets set by Saudi Vision 2030. By the end of 2023, 87 percent of Vision 2030 initiatives were either completed or on track, outperforming the results of 2022.
Furthermore, the Ministry of Health provided updates on two critical initiatives: establishing the Health Holding Co. and the Center for National Health Insurance. These initiatives are pivotal to the ministry’s healthcare transformation plan, as reported by the Saudi Press Agency.
The presentation detailed the health ministry’s strategic objectives, including key goals, crucial implementation stages, and the adoption of a modern healthcare model. This innovative approach has expanded access to healthcare services, enhanced their quality and efficiency, and bolstered preventive measures against health risks.
The presentation also highlighted the successful completion of the initial phase of the strategy, with 20 health clusters established across Saudi Arabia by the end of 2023.
The SMO’s report further highlighted notable accomplishments, program evaluations, and an overall performance summary, along with ongoing efforts and future aspirations for 2024. The analysis emphasized the ongoing transformation driven by Vision 2030, which has not only met but exceeded the 2023 goals of fostering a vibrant society, a thriving economy, and an ambitious nation.
CEDA issued pertinent decisions and recommendations on all the topics discussed during the meeting.
Under the Council of Ministers, CEDA aims to establish the governance, mechanisms, and measures necessary to achieve Saudi Vision 2030, addressing a broad spectrum of domestic issues, including health, labor, education, and Islamic affairs.