The Council of Economic Affairs and Development held a meeting on Tuesday afternoon in Jeddah. During the meeting, the council reviewed a number of economic and developmental issues, including a presentation by the Ministry of Finance on private sector entitlements for the current financial year. The presentation included details on the status of disbursement on payment orders received for private sector financial claims for the year 1438-1439H (2017 G) and a report on payment orders disbursed to the private sector during a period of less than 60 days, which amounted to 98% of the total payment orders. The council also reviewed the presentation by the Local Content and Private Sector Development Unit of Council of Economic Affairs and Development on Private Sector Stimulation. The presentation included a report on key challenges affecting GDP development and a report on private sector stimulation initiatives and initiatives and governance relating to them. The council discussed a presentation by the Ministry of Trade and Investment on the ministry's plan to protect the consumer and strengthen the government role in protecting consumers from the unrealistic price increases of goods and services and a review of trade violations to be imposed by the ministry for consumer protection. The council also reviewed the presentation by the Ministry of Labor and Social Development, the Job Creation and Unemployment Control Authority and the General Authority for Small and Medium Enterprises on the reality of the labor market in the Kingdom. The presentation included the main challenges facing the development of the labor market and the solutions and initiatives to confront them. The council made the necessary recommendations on these issues.
