Saudi Gazette report
RIYADH — The Saudi Council of Financial and Improvement Affairs (CEDA) highlighted the state’s efforts in bolstering social safety packages, as evidenced by the 27 p.c rise in social advantages till the third quarter of this 12 months. The council famous that the 38 p.c enhance in authorities spending charges on public companies, together with training and well being, demonstrates the state’s dedication to enhancing the standard of companies supplied to residents and expatriates.
The digital assembly of CEDA mentioned varied subjects on its agenda, together with a presentation by the Ministry of Financial system and Planning in regards to the third-quarter financial and growth report for 2023. The report contained an total view of the worldwide financial system in mild of volatility and excessive rates of interest, essentially the most vital financial situations, and future challenges and expectations.
The report additionally lined the newest developments associated to native actions, along with financial expectations and visions. The report talked about that the Kingdom’s non-oil financial system is anticipated to develop positively in the course of the third quarter of 2023, due to the help from authorities spending that helped the Kingdom to beat fluctuations regardless of the worldwide financial challenges.
In the course of the assembly, the council additionally reviewed the Ministry of Finance’s presentation of the third-quarter report of the final finances for the fiscal 12 months 2023. The report supplied an in depth evaluation of economic efficiency till the third quarter of this 12 months, in addition to indicators of revenues, expenditures, and public debt, along with the progress made in implementing packages and tasks to help financial diversification, enhance the standard of companies for residents and expatriates, help social safety packages, and empower the non-public sector to attain the targets of the Kingdom’s Imaginative and prescient 2030