Arab News, Thu, May 30, 2024 | Dhu al-Qadah 22, 1445
Saudi economy shines amid low inflation rates and Vision 2030 success: official report
Saudi Arabia:
The Saudi economy has demonstrated resilience, marked by sustained growth in
non-oil sectors and a globally low annual inflation rate of 1.6 percent, as per
an official report.
This was highlighted during the latest meeting of
the Council of Economic and Development Affairs, where discussions covered
crucial reports and topics.
Among these was the Ministry of Economy and
Planning’s quarterly analysis of international and local economic performance in
the first quarter of 2024. The analysis delved into global economic growth
trends and their potential implications for the Kingdom.
Meanwhile, the council, also known as CEDA,
reviewed the Strategic Management Office’s 2023 report on the achievements of
targets set by the Kingdom’s Vision 2030, highlighting the significant progress
made. By 2023, 87 percent of Vision 2030 initiatives were either completed or on
track, surpassing the performance of 2022.
Additionally, the Ministry of Health presented
progress updates on two pivotal initiatives: the establishment of the Health
Holding Co. and the Center for National Health Insurance. These initiatives are
integral to the ministry’s healthcare transformation plan, the Saudi Press
Agency reported.
The presentation outlined the health ministry’s
strategic ambitions, including goals, essential implementation stages, and the
embrace of a contemporary healthcare paradigm.
This innovative approach has widened access to
healthcare services, improved their caliber and efficacy, and strengthened
preventive measures against medical hazards.
Moreover, the presentation highlighted the
successful completion of the inaugural phase of the strategy, with 20 health
clusters established across Saudi Arabia by the end of 2023.
The SMO’s report also 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
efforts driven by the vision, which have demonstrably achieved and even
surpassed the 2023 goals concerning the vision’s three aspects: a vibrant
society, a thriving economy, and an ambitious nation.
CEDA issued pertinent decisions and
recommendations concerning all the topics addressed during the meeting.
Under the Council of Ministers, CEDA aims to
establish the governance, mechanisms, and measures necessary to achieve Saudi
Vision 2030, addressing issues spanning all domestic matters, from health to
labor to education and Islamic affairs.