According to the most recent economic review, Saudi Arabia has demonstrated increasing adaptability and resilience in dealing with international issues.
This was illustrated at a virtual meeting of the Council of Economic and Development Affairs, when important reports were examined, one of which was a monthly update on August’s domestic and international economic performance from the Ministry of Economy and Planning.
According to the Saudi Press Agency, the evaluation recognized that recent events are indicative of the nation’s continuous efforts to fortify its financial foundation and broaden its economic basis.
The impact of economic diversification initiatives is highlighted by the country’s economic resiliency, which is demonstrated by the continuous fall in inflation rates, which dropped to 1.5 percent in June, and an 8.2 percent annual growth in commodities exports in May.
An examination of future global economic trends and their effects on the domestic economy was also covered at the discussion. The Ministry of Finance’s second-quarter financial report, which included specifics on revenue, expenses, and public debt indicators, was also examined by the council.
The report covered advancements in strategic initiatives that are in line with Saudi Vision 2030, infrastructure development, social protection programs, and service quality improvements.
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