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Saudi Arabia Increases Support to Enhance Food Security

The Saudi Food Security Committee monitors the strategic inventory of wheat and barley (Asharq Al-Awsat)
The Saudi Food Security Committee monitors the strategic inventory of wheat and barley (Asharq Al-Awsat)
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Saudi Arabia Increases Support to Enhance Food Security

The Saudi Food Security Committee monitors the strategic inventory of wheat and barley (Asharq Al-Awsat)
The Saudi Food Security Committee monitors the strategic inventory of wheat and barley (Asharq Al-Awsat)

Saudi government entities concerned with the food security system have allocated around $2.5 billion to support the strategic inventory of wheat and barley and compensate importers.

The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, approved the support to address the effects of rising prices globally.

Last July, King Salman approved the allocation of $5.3 billion of financial support to help confront the impact of rising costs around the globe. It aims to increase strategic reserves of necessities and ensure their availability.

The Saudi Food Security Committee held its periodic meeting chaired by the Minister of Environment, Water, and Agriculture, Abdul Rahman al-Fadhli, to review the developments regarding food security in local markets.

It noted an abundant quantity of food commodities in the local market and the volume of stocks and local and external supply chains in light of global market developments against the backdrop of the Russia-Ukraine crisis.

Fadhli announced that the Saudi government entities concerned with the food security system allocated around $2.5 billion to address the effects of rising global prices.

The committee is working to follow up on implementing the leadership's directives to ensure abundant supply, enhance the local stock of essential food commodities and support their continuity in the Kingdom's markets, characterized by their safe and reassuring situation.

Fadhli pointed out that the Saudi Grains Organization (SAGO) allocated a total of $1.2 billion in its budget to support the strategic inventory of wheat and barley and compensate importers.

The Minister also announced that $1.1 billion was allocated in the Agricultural Development Fund's (ADF) budget to lend the private sector to finance contracts that cover the Kingdom's needs for a period of no less than six months of the primary commodities, including corn, barley, and soybeans.

The Minister added that $213 million was provided as additional support for the subsidies presented to breeders and producers.

The approval of King Salman was based on Crown Prince Mohammad bin Salman's report in the light of a study on the developments of the economic situation in the world issued by the Council of Economic and Development Affairs.

Crown Prince Mohammed, the head of the Council, chaired a meeting last July to review several economic and development issues.

The meeting also addressed the presentation submitted by the Ministry of Commerce with the participation of the Ministry of Environment, Water and Agriculture, and the Ministry of Economy and Planning regarding monitoring prices of several products in the Kingdom's markets.

Saudi Arabia has disclosed plans to execute the directives of the Crown Prince, confirming the necessity of ensuring availability of products and fighting monopoly in the local market.

Meanwhile, the Minister of Commerce Majid al-Qasabi, said the supervisory team carried out more than 640,000 operations to monitor the prices of goods, and 27,000 violations were observed, stressing that violators have been held accountable.

The Minister explained that an ad hoc committee that includes ten government agencies meets periodically to follow up on the food stocks in the country to search for alternatives.

He stressed that in the event of a shortage in some products, the government would intervene to secure specific goods, taking advantage of the state's allocation to support essential commodities stocks and ensure their availability in the Saudi market.

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Business

Morocco Targets $10 Billion AI Contribution to GDP by 2030

People wave Morocco's flag in the old town of Rabat, on January 9, 2026 prior the Africa Cup of Nations (CAN) quarter-final football match Morocco v Cameroon. (AFP)
People wave Morocco's flag in the old town of Rabat, on January 9, 2026 prior the Africa Cup of Nations (CAN) quarter-final football match Morocco v Cameroon. (AFP)
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Morocco Targets $10 Billion AI Contribution to GDP by 2030

People wave Morocco's flag in the old town of Rabat, on January 9, 2026 prior the Africa Cup of Nations (CAN) quarter-final football match Morocco v Cameroon. (AFP)
People wave Morocco's flag in the old town of Rabat, on January 9, 2026 prior the Africa Cup of Nations (CAN) quarter-final football match Morocco v Cameroon. (AFP)

Morocco is targeting a 100 billion dirhams ($10 billion) boost to its gross domestic product from artificial intelligence by 2030, the minister in charge of digital transition said on Monday, as the country steps up its investment in training programs, sovereign data centers and cloud services.

Morocco, whose current GDP comes to around $170 billion, plans to invest in artificial intelligence centers linked ‌to universities and ‌the private sector, and ‌to ⁠integrate AI solutions ‌into public administration and industry, Minister Amal El Fallah Seghrouchni told a conference in Rabat.

The GDP boost would largely come from expanding domestic data-processing capacity through sovereign data centers, scaling up cloud and fiber-optic infrastructure, and building an AI-skilled workforce ⁠to support the deployment of AI solutions across industry ‌and government, she said.

Under the ‍plan, Morocco expects ‍to create 50,000 AI-related jobs and train ‍200,000 graduates in AI skills by 2030.

As part of that effort, Seghrouchni on Monday signed a partnership agreement with France's Mistral AI to support the development of generative AI tools in Morocco.

"We want to turn Morocco into ⁠a future excellence hub in AI and data science," Seghrouchni said.

The government is also preparing legislation governing artificial intelligence, according to the minister.

Morocco has earmarked 11 billion dirhams ($1.2 billion) for its digital transformation strategy for 2024–2026, covering AI initiatives and the expansion of fiber-optic infrastructure. It is separately planning a 500-megawatt, renewable energy-powered data center in the southern city of Dakhla ‌to boost the security and sovereignty of national data storage.

Business

Saudi Arabia Consolidates Its Position Among the World’s Top 20 Economies in 2026

Riyadh, Saudi Arabia (Reuters) 
Riyadh, Saudi Arabia (Reuters) 
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Saudi Arabia Consolidates Its Position Among the World’s Top 20 Economies in 2026

Riyadh, Saudi Arabia (Reuters) 
Riyadh, Saudi Arabia (Reuters) 

As the global financial landscape is reshaped by accelerating geopolitical shifts, economic data show that Saudi Arabia has firmly consolidated its place among the world’s 20 largest economies in 2026.

This standing reflects the success of Vision 2030 in diversifying income sources and expanding gross domestic product. The Kingdom ranks 19th globally, outperforming several long-established economies, with GDP projected at $1.316 trillion.

According to data based on International Monetary Fund reports released in October 2025, the global economy is expected to reach $123.6 trillion in 2026. Economic power remains highly concentrated, with the world’s five largest economies accounting for more than 55 percent of total global output:

United States: Continues to lead with GDP of $31.8 trillion, supported by a resilient labor market and sustained consumer spending, with real growth projected at 2.1 percent.

China: Ranks second with an estimated GDP of $20.7 trillion, despite demographic challenges and its transition toward advanced manufacturing.

Germany: Retains Europe’s top position in third place with GDP of $5.3 trillion, despite pressure from high energy costs.

India: The “rising star,” securing fourth place globally with GDP of $4.5 trillion and posting the fastest growth among major economies at 6.2 percent.

Japan: Slips to fifth place with GDP of $4.4 trillion, facing demographic headwinds despite strengths in robotics and automotive industries.

Linked to recent IMF assessments, Saudi Arabia stands out as a key pillar in what experts describe as a new “economic geography.” While many emerging markets have struggled with interest-rate volatility and inflation distortions in advanced economies - particularly the United States - the Kingdom has demonstrated a strong ability to absorb external shocks.

The IMF views Saudi Arabia’s large-scale investments in high-potential sectors not merely as a driver of domestic growth, but as part of a broader global shift in capital flows toward destinations offering stability and long-term attractiveness.

The data also underscore the strong performance of other economies on the list. Brazil ranks 11th with GDP exceeding $2.2 trillion, while Türkiye and Indonesia continue to compete closely in 16th and 17th place, respectively.

 

 

Business

Saudi Industrial Production Index Records Highest Growth Since Early 2023

A facility operated by the Saudi International Petrochemical Company (Sipchem). (Sipchem)
A facility operated by the Saudi International Petrochemical Company (Sipchem). (Sipchem)
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Saudi Industrial Production Index Records Highest Growth Since Early 2023

A facility operated by the Saudi International Petrochemical Company (Sipchem). (Sipchem)
A facility operated by the Saudi International Petrochemical Company (Sipchem). (Sipchem)

Saudi Arabia’s Industrial Production Index posted a year-on-year increase of 10.4 percent in November 2025, compared with the same month a year earlier, marking its highest growth rate since the beginning of 2023, according to preliminary data. On a monthly basis, however, the index declined by 0.7 percent.

Data released by the General Authority for Statistics on Sunday showed that the index for oil-related activities rose by 12.9 percent year on year in November, while the index for non-oil activities increased by 4.4 percent compared with the same month of the previous year.

Month on month, the index for oil activities recorded a rise of 0.5 percent, while the non-oil activities index fell by 3.4 percent compared with October 2025.

In November, the sub-index for mining and quarrying activities climbed 12.6 percent year on year, driven by higher oil production during the month. Saudi oil output rose to 10.1 million barrels per day, compared with 8.9 million barrels per day in November last year.

On a monthly basis, the mining and quarrying sub-index also increased by 0.5 percent.

The manufacturing sub-index recorded an annual rise of 8.1 percent, supported by a 14.5 percent increase in the manufacture of coke and refined petroleum products, as well as a 10.9 percent rise in the manufacture of chemicals and chemical products.

In monthly terms, preliminary results showed the manufacturing sub-index edged up by 0.3 percent, buoyed by a 0.3 percent increase in the manufacture of coke and refined petroleum products and a 1.0 percent rise in the manufacture of chemicals and chemical products.

As for other activities, the sub-index for electricity, gas, steam and air-conditioning supply fell by 4.3 percent year on year. In contrast, the sub-index for water supply, sewerage, waste management and remediation activities rose by 10.2 percent compared with November last year.

Compared with October 2025, the electricity, gas, steam and air-conditioning supply sub-index dropped sharply by 28.6 percent, while the water supply, sewerage, waste management and remediation activities sub-index declined by 3.1 percent.