• Sat. Dec 2nd, 2023


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    CEDA highlights efforts to bolster social protection programs


    Nov 8, 2023

    Saudi Gazette report

    RIYADH — The Saudi Council of Economic and Development Affairs (CEDA) highlighted the state’s efforts in bolstering social protection programs, as evidenced by the 27 percent rise in social benefits until the third quarter of this year. The council noted that the 38 percent increase in government spending rates on public services, including education and health, demonstrates the state’s commitment to enhancing the quality of services provided to citizens and expatriates.

    The virtual meeting of CEDA discussed various topics on its agenda, including a presentation by the Ministry of Economy and Planning about the third-quarter economic and development report for 2023. The report contained an overall view of the global economy in light of volatility and high interest rates, the most significant economic scenarios, and future challenges and expectations.

    The report also covered the most recent developments related to local activities, in addition to economic expectations and visions. The report mentioned that the Kingdom’s non-oil economy is expected to grow positively during the third quarter of 2023, thanks to the support from government spending that helped the Kingdom to overcome fluctuations despite the global economic challenges.

    During the meeting, the council also reviewed the Ministry of Finance’s presentation of the third-quarter report of the general budget for the fiscal year 2023. The report provided a detailed review of financial performance until the third quarter of this year, as well as indicators of revenues, expenditures, and public debt, in addition to the progress made in implementing programs and projects to support economic diversification, improve the quality of services for citizens and expatriates, support social protection programs, and empower the private sector to achieve the goals of the Kingdom’s Vision 2030

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