Ministers: Saudi Arabia Continues its Transformational Journey at Accelerated Pace

Ministers and officials in the Saudi government said that the Kingdom is continuing its comprehensive transformational journey at an accelerated pace since the launch of Vision 2030, which laid a basic foundation for a vibrant society and a prosperous economy.
A number of government officials commented on the annual report of Vision 2030, stressing that the achievements were made with resolve and persistence following comprehensive reforms.
Minister of Economy and Planning Faisal Al-Ibrahim said that the Kingdom’s achievements in 2023 demonstrated the strength and flexibility of its economy, as non-oil activities recorded their top contribution to the real gross domestic product at 50 percent, which is its highest historical level.
For his part, Minister of Finance Mohammed Al-Jadaan said that Saudi Arabia was reaping the results of economic reforms, pointing to an accelerated pace to diversify the economy and enhance the efficiency of financial performance, as well as other achievements that lay the foundations of a strong and diversified economy.
The Minister of Human Resources and Social Development, Ahmed Al-Rajhi, touched on some of the accomplishments during the past year, saying that 2.3 million citizens were now working in the private sector, compared to 1.7 million in 2019, in addition to increasing the percentage of women’s participation in the labor market to 35.5 percent.
He added that efforts are underway with all partners to localize specific professions and create a stimulating work environment in promising sectors.
In turn, Minister of Health Fahd Al-Jalajel explained that Saudi Vision 2030 is moving at an accelerated pace.
“Today, we are reaping the fruits of its journey with many accomplishments that support the provision of distinguished health care for the individual and society and the achievement of sustainable health development,” he stated.
For his part, the Minister of Hajj and Umrah, Dr. Tawfiq Al-Rabiah, commenting on the report, stated: “Eight years of successes and transformation, for development and a better future, through Saudi Vision 2030...”
Minister of Transport and Logistics Services, Engineer Saleh Al-Jasser, said: “Today, we are reaping the fruits of extensive national achievements in the transportation and logistics sectors, to enhance economic growth and support sustainable development.”
Moreover, Minister of Industry and Mineral Resources Bandar Al-Khorayef stated that Saudi Vision 2030 contributed to transforming the industrial sector into an attractive investment environment, developing human capabilities in line with the requirements of the modern industrial sector, and unleashing the large and promising capabilities of the mining sector.
Minister of Municipal, Rural Affairs and Housing, Majid Al-Hogail, pointed to the transformation witnessed in the housing sector in 2023, stimulated by Vision 2030, by regulating the real estate market, developing its laws, and increasing the supply.
“We continue our efforts to raise the quality of housing and enable citizens to own properties,” he noted.
The Minister of Tourism, Ahmed Al-Khatib, revealed that the Kingdom has achieved the target of Vision 2030 in 2023 by welcoming 100 million tourists, raising the goal to 150 million tourists, and committing to empowering the sector.
Minister of Sports, Prince Abdulaziz Al-Faisal, also spoke about the report, saying: “Under the leadership of our great nation... and with its unlimited support... the goals of Saudi Vision 2030 will be achieved.”

Russia's inflation has reached 9.5% this year, according to new weekly data showing that the consumer price index rose by 0.33% in the week leading up to Dec. 23, the statistical agency Rosstat reported on Wednesday.

This data follows the central bank's unexpected decision last week to maintain its key interest rate at 21%. The regulator said recent tightening has created conditions conducive to reducing inflation towards its target of 4%.

The agency indicated that seasonally volatile prices for fruit and vegetables contributed significantly to the overall increase, with cucumber prices rising by 8.3% and tomato prices by 1.9% in just one week.

Among less seasonally sensitive foods, the price of eggs increased by 1.7%, and frozen fish by 1.4%. The central bank had initially estimated this year's inflation at a maximum of 8.5%.

The central bank's monetary policy department's head Andrei Gangan told the Interfax news agency on Dec. 24 that full-year inflation will be between 9.6% and 9.8%.

Inflationary expectations among households for the coming year also reached 13.9% in December, the highest level since the beginning of the year.

In a report on its inflationary expectations survey, the central bank said respondents were most concerned about rising prices for milk, dairy products, eggs, meat, and fish.

It also said respondents have begun to notice increases in the prices of home appliances and electronic devices.

Ministers: Saudi Arabia Continues its Transformational Journey at Accelerated Pace