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KSA Welcomes ILO, World Bank, Other Partners to Global Labor Market Conference

KSA Welcomes ILO, World Bank, Other Partners to Global Labor Market Conference
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Ministry of Human Resources and Social Development - Kingdom of Saudi Arabia: KSA Welcomes ILO, World Bank, Other Partners to Global Labor Market Conference

Ministry of Human Resources and Social Development - Kingdom of Saudi Arabia: KSA Welcomes ILO, World Bank, Other Partners to Global Labor Market Conference
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Saudi Arabia Registers in October Lowest Inflation Level in Two Years

Saudi Arabia was able to record the lowest level of inflation rate in nearly two years at 1.6 percent in October, on an annual basis - the same rate registered in February 2022. Moody’s on Wednesday raised its expectations for the growth of the Kingdom’s economy next year to 4.6 percent. The consumer price index in the Kingdom continues to decline for the fourth month in a row, recording 1.7 percent in September 2023, compared to the same period last year.

Saudi Arabia Fortifies Itself Against External Shocks with Proactive Measures in 2024 Budget

Saudi Arabia has taken proactive measures to boost the ability of its economy to face challenges and developments, and to ensure financial sustainability. This is reflected in the figures in the preliminary statement of the 2024 budget, through which the Kingdom is targeting revenues of SAR1.1 trillion ($312 billion), compared to expenditures of about SAR1.2 trillion ($333 billion), and a limited deficit of SAR79 billion ($21 billion), which represents 1.9 percent of the GDP.

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