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The Council of Economic and Development Affairs convened via videoconference on Thursday to examine the Ministry of Finance report detailing second-quarter 2026 national budget performance, including revenues, expenditures and public debt. According to the council, the data demonstrated Saudi Arabia’s exceptional fiscal efficiency and flexibility in responding to ongoing global economic and geopolitical shifts. The review underscored the strength of the financial position, progress in diversifying the economic base and the impact of proactive fiscal policies that support sustained development while advancing Saudi Vision 2030 and maintaining medium- and long-term stability.
An International Monetary Fund assessment found that Saudi Vision 2030 has driven a full decade of economic transformation by diversifying the economy, strengthening reforms and backing long-term growth across multiple sectors. S&P Global Ratings noted that reform momentum in recent years has delivered structural improvements to fiscal and debt management. World Bank forecasts place Saudi economic growth at 4.5 percent for 2026, fueled by the reforms and robust non-oil sector performance.
The council also studied a presentation from the Project Management Office that outlined implementation of decisions and recommendations issued during the second quarter, complete with achievement statistics from government centers and entities. In parallel it considered the monthly report from the Ministry of Economy and Planning on recent global economic developments, projected growth prospects and the implications of geopolitical changes for the national economy. Officials highlighted opportunities to raise competitiveness and reinforce economic development paths.
A semi-annual briefing from the Human Capability Development Program and the Ministry of Media updated the council on Saudipedia, addressing its expanding digital footprint, search-engine-optimization strategies, artificial-intelligence integration and overall contribution to knowledge dissemination. The council received a separate briefing confirming that Saudi Arabia’s cybersecurity sector had secured first place globally in the Cybersecurity Index for the third successive year. These updates formed part of a wider examination of key economic indicators.
The Ministry of Economy and Planning supplied executive summaries covering the Consumer Price Index, Wholesale Price Index, quarterly gross domestic product, national accounts and foreign trade data, all of which the council weighed before adopting a series of related decisions and recommendations. The Ministry of Finance report had earlier placed particular emphasis on how flexible budgeting had helped insulate the economy from external volatility. Such measures align with the broader strategic planning that has shaped fiscal policy throughout the Vision 2030 implementation.
