Dubai – Business News Report|| The Saudi Economic Council and Development convened to discuss global and regional economic developments and their impact on the national economy. During this session, the council highlighted that the private sector activity continued its growth for the fifth consecutive month. The Purchasing Managers’ Index rose to 53.8 points in August 2026, up from 53.1 points in the previous month.
The council reviewed the monthly report from the Ministry of Economy and Planning during a video conference meeting. This report addressed key developments in the global economic landscape amid rapid geopolitical changes. These shifts have led to increased global inflationary pressures and tighter monetary policies by major central banks. The report emphasized the robustness and flexibility of the national economy in facing these new regional and global challenges.
Stable Inflation and Business Confidence
Annual inflation in the Kingdom remained stable at 1.8 percent for the fourth consecutive month in August 2026. This rate is considered the lowest globally. Meanwhile, the Business Confidence Index recorded 56.7 points, an increase of 0.2 points compared to the previous month. This rise reflects improved confidence levels within the business sector, supported by higher trust in both manufacturing and services sectors.
Vision 2030 Progress and Non-Oil Growth
The council also discussed the quarterly report on Vision 2030 programs and national strategies for the second quarter of 2026. The presentation covered transformational efforts over the past ten years, laying solid foundations for maximizing impact. It highlighted the diversification of the economic base and record contributions from non-oil activities. The private sector and citizens are now active partners in development.
Quality of Life and Citizen Account Programs
Additionally, the council reviewed the annual report of the Quality of Life Program Center for 2025. Local content contribution reached 44 percent, surpassing the 37 percent target. Contributions to GDP hit 78 billion riyals, exceeding the 77.1 billion riyal goal. The council also examined the Citizen Account program’s annual report, which provided support to eligible families. Total support since launch reached approximately 262 billion riyals for 2.4 million beneficiaries.
Government Performance and Price Monitoring
The National Center for Public Sector Performance presented its quarterly assessment for Q2 2026. This review focused on government agencies’ performance regarding Vision 2030 targets. The center continues to evaluate strategic documents and monitor indicators across all strategic goals. Furthermore, the council reviewed procedural matters including judicial facility development and clinical studies systems. They also analyzed consumer price indices and wholesale price trends alongside external trade summaries.
This story was produced in the newsroom from the disclosed sources named above.
