Saudi Arabia’s ministry of economy and planning (MEP) has launched a financial index to track the performance of the kingdom’s private companies.
The MEPX will track 10 economic factors in four categories – consumers, firms, finance and trade.
According to the ministry, the index will support the kingdom’s economic policymaking and strategies based on emerging data, market trends and fluctuations.
“The first MEPX business cycle composite index marks an important milestone in our mission to provide accurate, trusted, and transparent economic data and statistics in the kingdom,” said Faisal F. Alibrahim, minister of economy and planning.
“As the kingdom records its fastest economic growth in a decade, increasing access to emerging data is crucial to informing pro-growth policymaking as we look to enhance the private sector’s contribution to 65% of Saudi Arabia’s GDP by 2030.”
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