Economic Council reviews price stability amid intensifying global pressures

RIYADH — A meeting of the Council of Economic and Development Affairs (CEDA), held via video conference on Monday, reviewed the Ministry of Economy and Planning’s monthly report on global economic growth and its outlook amid rapidly shifting geopolitical dynamics. The report highlighted the Kingdom’s pivotal role in strengthening the resilience of the global economy and supporting international price stability by ensuring the continuity of energy supplies and providing alternative export routes. These efforts have helped soften the impact of geopolitical changes on global markets, underscoring the Kingdom’s standing as a reliable partner and its active role in global economic stability. The report also examined the implications for the Saudi economy, noting that economic indicators show a capacity for price stability despite mounting global pressures. It attributed this resilience to effective economic and structural policies that have contained inflationary pressures and protected purchasing power. The Purchasing Managers’ Index (PMI) reached 55.3 points, its highest level since February 2016, reflecting growing business confidence and the Saudi economy’s adaptability as it continues to diversify under Saudi Vision 2030. The council discussed the Ministry of Health’s presentation on progress in the health transformation plan, the transfer of health clusters to the Health Holding Company, and the national health insurance scheme. Ten health clusters are transferring to the Health Holding Company, with steps set out to complete the transfer of the remaining clusters by early 2027. The aim is to separate the provision of health services from their regulation and financing: the ministry will regulate and supervise the sector, while the Health Holding Company will deliver services through 20 health clusters in line with the Saudi Model of Care. The presentation also highlighted the clusters’ achievements in improving access to care and its quality. To monitor government entities’ progress on their assigned tasks, the council reviewed a report by the Project Management Office of the CEDA Secretariat on the implementation of its decisions and recommendations in the third quarter of 2026. The report detailed the council’s outputs at the central government level and within the represented entities, with comprehensive completion statistics. It noted an increase in the number of entities scoring above 98% on performance indicators and a decline in outstanding or delayed tasks. The council also considered several procedural matters, including a progress report on directives to develop the startup and venture capital sector; a report on the activities of the National Program to Combat Commercial Concealment; the monthly executive summaries of the Consumer Price Index (CPI) and the Wholesale Price Index (WPI); the quarterly executive summary of the Gross Domestic Product (GDP) report; the monthly executive summary on foreign trade; and the underlying reports. The council issued the necessary decisions and recommendations.