Council of Economic Affairs reviews Q1 economic performance

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Saudi Arabia’s Council of Economic and Development Affairs (CEDA) held a meeting via video call to review several reports and issues on its meeting agenda, the Saudi Press Agency (SPA) reported.

The council reviewed the quarterly presentation submitted by the Ministry of Economy and Planning regarding the performance of the global and local economy for the first quarter of 2024. The presentation included an analysis of the growth trends and prospects of the global economy, and their potential impact on the national economy, stressing the strength of the Kingdom’s economy in the face of all challenges, with the continued growth of non-oil activities.

The inflation rate stabilized at 1.6%, within a range lower than the global target rate. It also touched on the future expectations of the national economy.

During the meeting, the presentation was submitted by the Ministry of Health on the progress made in establishing of the Health Holding Co. (HHC) and setting up the Center for National Health Insurance (CNHI), which is considered one of the most important milestones in the Health Ministry’s transformation strategy.

The presentation addressed the objectives of the strategy, the most prominent steps of its implementation, and the application of the modern healthcare model, which had a positive impact on facilitating access to health services, improving the quality and efficiency of health services, and enhancing prevention against health risks. The council also explained the completion of the first phase of the strategy by launching 20 health clusters in various regions of the Kingdom, by the end of 2023.

The council further reviewed the presentation submitted by its Strategic Management Office regarding Saudi Arabia’s Vision 2030 report for 2023.

The report included the most prominent achievements of the programs towards the Vision and its strategic objectives, an evaluation of their performance, and a comprehensive overview of the performance of its programs, in addition to the most notable existing efforts and future aspirations for 2024.

The report also pointed out that the percentage of completed initiatives under Vision 2030 reached 87%, with an increase in the performance of the initiatives in 2023 compared to the year before.