Ministry of Economy and Planning (Saudi Arabia)

The Ministry of Economy and Planning (MEP) (Arabic: وزارة الاقتصاد والتخطيط) is one of the governmental bodies of Saudi Arabia and part of the cabinet. The ministry has the function of developing and implementing five-year plans which reflect the long-term economical targets of the country. The ministry is assumed by Faisal bin Fadel bin Mohsen Al-Ibrahim, who was assigned to it on May 2, 2021, to succeed the designated Minister of Finance, Muhammad Abdullah Al-Jadaan.

Ministry of Economy and Planning

Faisal F. Alibrahim, the current Minister of Economy and Planning since 2021
Ministerial Department overview
Formed2003 (2003)
Preceding agencies
  • Central Planning Organization
  • Ministry of Economy and Planning
JurisdictionGovernment of Saudi Arabia
HeadquartersRiyadh
Minister responsible
WebsiteOfficial English website

History

The ministry of economy and planning was established in 1953.[1][2] However, the body was not functional[1] and was disestablished in 1954.[2]

The ministry of economy and planning was formed in 2003 when the ministry of planning and economy department were merged.[3][4] Until 2003 the ministry of economy and planning was in charge of development and implementation of five-year plans.[3][5] The ministry is based in Riyadh.[6]

Since its foundation in 2003, the ministry has been headed by three ministers. The first minister was Khalid bin Mohammed Al Gosaibi who was appointed to the post in April 2003.[7] Mohammad Al Jasser was the minister of economy and planning from December 2011 to April 2015.[8][9] Adel Fakeih was appointed the minister of economy and planning in April 2015. The current minister is Faisal F. Alibrahim who was appointed as acting minister on 6 March 2020 replacing Mohammed Al-Jadaan.[10]

Functions

The major function of the ministry is to prepare the development plans of the country.[11] It has various major agencies including the central department of statistics and the national computer center.[3][12]

References
  1. Steffen Hertog (2007). "Shaping the Saudi state: Human agency's shifting role in the rentier state formation" (PDF). International Journal of Middle East Studies. 39: 539–563. doi:10.1017/S0020743807071073. Retrieved 4 January 2014.
  2. Ghassane Salameh; Vivian Steir (October 1980). "Political Power and the Saudi State". MERIP Reports (91). JSTOR 3010946.
  3. "Ministry of Planning and National Economy". SAMIRAD. Retrieved 27 September 2013.
  4. Michael O'Kane (March 2013). Doing Business in Saudi Arabia. Michael OKane. p. 21. ISBN 978-0-615-43178-9. Retrieved 2 October 2014.
  5. "Arabic, Arabists and Academia". Saudi Aramco World. 30 (3). May–June 1979. Retrieved 11 October 2013.
  6. Basic addresses Archived 24 February 2014 at the Wayback Machine OSCE. September 2011. Retrieved 5 February 2014.
  7. "Saudi Cabinet reshuffle". SAMIRAD. Riyadh. 30 April 2003. Retrieved 27 September 2013.
  8. Glen Carey (13 December 2011). "Saudi Arabia's King Appoints New Economic Team Amid Record Spending Plans". Bloomberg. Retrieved 27 September 2013.
  9. "Profile-Saudi Economy and Planning Minister Muhammad Al Jasser". Reuters. 15 December 2011. Retrieved 2 October 2014.
  10. "Saudi Arabia appoints new minister of economy and planning". Reuters. 3 May 2021. Retrieved 2 February 2022.
  11. "Economy and Planning organizes the 10th development plan workshop". Saudi Business News. Archived from the original on 17 February 2013. Retrieved 2 October 2014.
  12. "System of General Statistics". Central Department of Statistics and Information. Archived from the original on 19 August 2013. Retrieved 27 September 2013.
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