The Saudi Council of Economic and Development Affairs has convened via video conference to review reports and agenda items, including a monthly update on local and global economic developments for October 2024.
The update provided an overview of the global economy, analyzed developments in major economies, identified key challenges, and assessed their potential impact on the national economy.
The council reviewed the Kingdom's significant strides in the cybersecurity sector. The nation's classification as a 'Role-modelling' in the UN Global Cybersecurity Index 2024 reflects the unwavering support of the wise leadership for the sector and in implementing Saudi Vision 2030's programs, it said.
The council also reviewed a report on the implementation of its decisions and recommendations from the third quarter of 2024. The report detailed the council's outputs. It highlighted a notable increase in entities achieving over 98% in performance indicators.
The council was briefed on the outcomes of the Saudi delegation's participation in the first Saudi-Brazilian Aviation Conference, including the signing of agreements and memoranda of cooperation that will further solidify the Kingdom's leading role in the aviation sector, aligning with the plans and strategies of Vision 2030.
The council discussed other topics and reports, including those related to the Local Content and Government Procurement Authority and the national program for leadership development.
It also reviewed the economic outlook report for the first quarter of 2024. It examined the executive summary of foreign trade for July, the summary of the wholesale price index report for August, and the summary of the consumer price index report for August.
It made necessary decisions and recommendations on these matters.
