The document, which promotes the new economic model the government aims to achieve, was made available on the ministry’s website ahead of the International Monetary Fund and World Bank annual meetings this week.
During meetings with European commissioners and bilateral development partners, Al-Mashat reviewed the key pillars of the new narrative, which is based on macroeconomic stability, structural transformation towards tradable sectors, redefining the state’s role in the economy, and empowering the private sector.
“The narrative goes beyond fiscal and monetary reform and focuses on real economy sectors,” Al-Mashat said in a statement. She explained that after a decade of infrastructure development and efforts to achieve macroeconomic stability since March 2024, the new program aims to build on this progress by focusing on productive sectors.
The minister said the transformation is already visible in the economy’s growth structure, with non-petroleum manufacturing industries, alongside tourism, ICT, and agriculture, leading the fastest-growing sectors in the last fiscal year, 2024/2025.