The Ministry of Economy and Planning develops, advances and evaluates economic affairs policies and development plans in Saudi Arabia, with achieving Saudi Vision 2030 as a central objective. It was established in 1953 under the name Ministry of Economy.
History of the Ministry of Economy and Planning
A year after its founding, the ministry merged with the Ministry of Finance in 1954 to form the Ministry of Finance and National Economy. The Supreme Council for Planning was formed in 1959, replaced by the Central Planning Authority in 1964.
In 1975 the council was transferred to the Ministry of Planning. Economic activity moved from the Ministry of Finance and National Economy to the Ministry of Planning in 2000 and in 2003 the name was amended to the Ministry of Economy and Planning.
From its establishment until 2023, eight ministers led the institution. The first to hold the post of Minister of Planning was Hisham Muhiuddin Nazer, during the reign of King Khalid Bin Abdulaziz Al Saud. Fiscal policy is handled separately, as covered in this profile of Finance Minister Mohammed Al-Jadaan.
Vision and mission of the Ministry of Economy and Planning
The stated vision is to be the main enabler of sustainable development and economic diversification in the Kingdom. The mission is to develop economic policies and development plans grounded in knowledge and evidence-based analysis, in partnership with government agencies.
The ministry manages financial and economic planning by designing policies and ensuring they integrate. It leads economic forecasting and builds institutional competencies in economics and public policy to support decisions on national plans.
Development plans and structure
The ministry is responsible for the country’s five-year development plans. The first dates to 1970, during the reign of King Faisal Bin Abdulaziz Al Saud, supervised by the Central Planning Authority before it became a ministry. Ten development plans have been issued in total, the last covering 2015 to 2019.
It operates from headquarters in Riyadh and includes the General Department for Strategic Communication and the General Department of Legal Affairs, along with several agencies: the National Planning and Policy Affairs Agency, the Human and Social Development Affairs Agency and the Sectoral Development Affairs Agency. The minister is a member of the Council of Ministers and is assigned by Royal Order.
Strategic objectives
- Developing the strategic direction for national development priorities.
- Developing and aligning economic policies.
- Highlighting strategic opportunities for growth and diversification through regional and international engagement.
- Enabling decision-making through evidence-based analysis.
- Developing economic expertise and competencies.
- Enhancing internal capabilities toward institutional excellence.
These objectives are set against the pace of change in both the national and international economy, tracked through indicators such as GDP growth and non-oil sector expansion.
Relationship with Saudi Vision 2030
The ministry supports government agencies in strategic and executive planning, participating at different levels of the Vision system and supplying information, data, statistics and studies to related entities.
Its most distinctive role is assessment. It evaluates impact before and after the implementation of vision programs and national, sectoral and regional strategies, then refines their design to maximize developmental impact. It is also a member of the permanent task force concerned with the budget for programs delivering the vision, work reflected in the annual Vision 2030 report and the approved 2026 budget.
Frequently asked questions
When was the ministry established?
In 1953, originally as the Ministry of Economy. It took its current name in 2003.
How many development plans have been issued?
Ten, the last covering the period from 2015 to 2019.
Who was the first Minister of Planning?
Hisham Muhiuddin Nazer, during the reign of King Khalid Bin Abdulaziz Al Saud.
Further reading
Economic planning connects to labor, industry and investment policy across government. See Saudization, industry and technology, the largest Saudi companies and the 2026 budget figures.
