عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Arabia Ranks 4th Globally in Digital Services

The headquarters of the Digital Government Authority (Asharq Al-Awsat)
The headquarters of the Digital Government Authority (Asharq Al-Awsat)
TT
TT

Saudi Arabia Ranks 4th Globally in Digital Services

The headquarters of the Digital Government Authority (Asharq Al-Awsat)
The headquarters of the Digital Government Authority (Asharq Al-Awsat)

Saudi Arabia has excelled in the United Nations E-Government Development Index (EGDI) and its related sub-indices, rising 25 positions in 2024 to join the ranks of leading nations globally.

The Kingdom now ranks fourth worldwide, first regionally, and second among G20 countries in the Digital Services Index. It also secured sixth place in the overall E-Government Development Index, seventh in the E-Participation Index, while Riyadh placed third in the Local E-Services Index, behind Tallinn and Madrid, out of 193 cities globally.

This achievement reflects the government’s extensive efforts and digital reforms under the Vision 2030 initiative, particularly through its Digital Transformation Program and various e-government projects. The private sector also contributed to this progress, as enhanced digital services and infrastructure boosted investor confidence and encouraged investment.

Saudi Arabia’s rise of 25 places marks the first time a Middle Eastern country has entered the global top 10 in the E-Government Index. In 2022, the Kingdom had already advanced 12 places, supported by e-government initiatives. Now, Saudi Arabia, South Korea, and Singapore are the only Asian countries in the top 10.

Additionally, the Kingdom ranked second globally in digital government services among G20 nations, first in the Middle East, and second in Asia. It also made substantial leaps in other areas, climbing 53 spots in the Telecommunications Infrastructure Index and 31 in the Human Capital Index.

The United Nations highlighted Saudi Arabia’s remarkable progress in the E-Services Index, where it jumped 67 places to rank fourth globally. Government digital regulations and the availability of open government data both reached 100%, while the Kingdom advanced 60 places in e-participation and consultations with citizens and businesses.

The Saudi Minister of Communications and Information Technology, Abdullah Al-Swaha, expressed his gratitude to King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman for their unwavering support of the digital sector and government transformation efforts. He credited this backing for Saudi Arabia's historic rise in global digital rankings, reflecting the goals of Vision 2030 and strengthening the country's role as a leader in the regional and global digital economy.

Governor of the Digital Government Authority Ahmed Al-Suwayan highlighted that the Kingdom’s progress in the UN E-Government Development Index is a direct result of leadership support. He emphasized that reforms and investments under Vision 2030 have enhanced cooperation between government entities, leading to the adoption of emerging technologies and the launch of key digital initiatives.

Most Viewed

 
 
Business

US Tariffs Could Slow China's Growth to 4.5% in 2025

People walk past a billboard which reads I love Beijing, Happy New Year at 798 art district, ahead of the upcoming Lunar New Year, marking the Year of the Snake, in Beijing on January 14, 2025. (Photo by JADE GAO / AFP)
People walk past a billboard which reads I love Beijing, Happy New Year at 798 art district, ahead of the upcoming Lunar New Year, marking the Year of the Snake, in Beijing on January 14, 2025. (Photo by JADE GAO / AFP)
TT
TT

US Tariffs Could Slow China's Growth to 4.5% in 2025

People walk past a billboard which reads I love Beijing, Happy New Year at 798 art district, ahead of the upcoming Lunar New Year, marking the Year of the Snake, in Beijing on January 14, 2025. (Photo by JADE GAO / AFP)
People walk past a billboard which reads I love Beijing, Happy New Year at 798 art district, ahead of the upcoming Lunar New Year, marking the Year of the Snake, in Beijing on January 14, 2025. (Photo by JADE GAO / AFP)

China's economic growth is likely to slow to 4.5% in 2025 and cool further to 4.2% in 2026, a Reuters poll showed, with policymakers poised to roll out fresh stimulus measures to soften the blow from impending US tariff hikes.

Gross domestic product (GDP) likely grew 4.9% in 2024 - largely meeting the government's annual growth target of around 5%, helped by stimulus measures and strong exports, according to the median forecasts of 64 economists polled by Reuters.

But the world's second-largest economy faces heightened trade tensions with the United States as President-elect Donald Trump, who has proposed hefty tariffs on Chinese goods, is set to return to the White House next week.

“Potential US tariff hikes are the biggest headwind for China's growth this year, and could affect exports, corporate capex and household consumption,” analysts at UBS said in a note.

“We (also) foresee property activity continuing to fall in 2025, though with a smaller drag on growth.”

Growth likely improved to 5.0% in the fourth quarter from a year earlier, quickening from the third-quarter's 4.6% pace as a flurry of support measures began to kick in, the poll showed.

On a quarterly basis, the economy is forecast to grow 1.6% in the fourth quarter, compared with 0.9% in July-September, the poll showed.

The government is due to release fourth-quarter and full-year GDP data, along with December activity data, on Friday.

China's economy has struggled for traction since a post-pandemic rebound quickly fizzled out, with a protracted property crisis, weak demand and high local government debt levels weighing heavily on activity, souring both business and consumer confidence.

Policymakers have unveiled a blitz of stimulus measures since September, including cuts in interest rates and banks' reserve requirements ratios (RRR) and a 10 trillion yuan ($1.36 trillion) municipal debt package.

They have also expanded a trade-in scheme for consumer goods such as appliances and autos, helping to revive retail sales.

Analysts expect more stimulus to be rolled out this year, but say the scope and size of China's moves may depend on how quickly and aggressively Trump implements tariffs or other punitive measures.

More stimulus on the cards

At an agenda-setting meeting in December, Chinese leaders pledged to increase the budget deficit, issue more debt and loosen monetary policy to support economic growth in 2025.

Leaders have agreed to maintain an annual growth target of around 5% for this year, backed by a record high budget deficit ratio of 4% and 3 trillion yuan in special treasury bonds, Reuters has reported, citing sources.

The government is expected to unveil growth targets and stimulus plans during the annual parliament meeting in March.

Faced with mounting economic risks and deflationary pressures, top leaders in December ditched their 14-year-old “prudent” monetary policy stance for a “moderately loose” posture.

China's central bank is expected to deploy its most aggressive monetary tactics in a decade this year as it tries to revive the economy, but in doing so it risks quickly exhausting its firepower. It has already had to repeatedly shore up its defense of the yuan currency as downward pressure pushes it to 16-month lows.

Analysts polled by Reuters expected the central bank to cut the seven-day reverse repo rate, its key policy rate, by 10 basis points in the first quarter, leading to a same cut in the one-year loan prime rate (LPR) - the benchmark lending rate.

The PBOC may also cut the weighted average reserve requirement ratio (RRR) for banks by at least 25 basis points in the first quarter, the poll showed, after two cuts in 2024.

Consumer inflation will likely pick up to 0.8% in 2025 from 0.2% in 2024, and rise further to 1.4% in 2026, the poll showed.