The Saudi Council of Economic and Development Affairs (CEDA) has discussed during a virtual meeting developments in the global economy amid rapidly changing geopolitical conditions and their effects on the national economy with the Kingdom’s Purchasing Managers’ Index (PMI) rising to 53.8 in August 2026 from 53.1 in July. CEDA discussed the Ministry of Economy and Planning’s monthly report and examined developments in the global economy, including rising inflationary pressures and tighter monetary policies adopted by major central banks, the Saudi Press Agency reported on Thursday. It also discussed the implications for Saudi Arabia, highlighting the national economy’s resilience and ability to navigate regional and international challenges while identifying opportunities arising from the changing economic environment. The report showed that the Kingdom’s Purchasing Managers’ Index (PMI) rose to 53.8 in August 2026 from 53.1 in July, marking the fifth consecutive month of growth. The Business Confidence Index also increased to 56.7, up 0.2 points from the previous month, reflecting continued confidence in the outlook for the Saudi economy. The council reviewed a separate report from its Strategic Management Office on the performance of Saudi Vision 2030 programs and national strategies during the second quarter of 2026. The report highlighted the transformation achieved over the past decade and outlined the next phase of Vision 2030, focused on maximizing impact, consolidating gains and sustaining progress across its three pillars: a vibrant society, a thriving economy and an ambitious nation. The council also examined the Quality of Life Program Center’s 2025 annual report, which showed that the program’s initiatives contributed 44% in local content by the end of 2025, exceeding the target of 37%. The initiatives contributed SR78 billion ($20.8 billion) to gross domestic product, surpassing the target of SR77.1 billion ($20.6 billion). In addition, the council reviewed the 2025 annual report of the Citizen Account Program. The council also discussed a second-quarter report from the National Center for Performance Measurement (Adaa), covering government agencies’ performance and progress toward Vision 2030 targets. The report outlined efforts to improve government performance through strategic reviews, performance monitoring, addressing implementation challenges and identifying opportunities for improvement. The council also discussed a second-quarter report from the National Center for Performance Measurement (Adaa), covering government agencies’ performance and progress toward Vision 2030 targets. The report outlined efforts to improve government performance through strategic reviews, performance monitoring, addressing implementation challenges and identifying opportunities for improvement.
