Ministry of Economy launches MEPX indicator to measure private sector performance

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The Ministry of Economy and Planning launched today, Oct. 16, the MEPX indicator to monitor and analyze the economic indicators and data issued by national authorities to assess emerging economic trends and provide actionable insights to officials and decision markers.

The leading indicator comprises 10 sub-indices with statistical tools. These sub-indices are classified into four main categories, including the consumer, corporate, financial and trade sectors, the state-run SPA reported.

MEPX offers the ministry’s specialists a greater range of economic data to discover and monitor key growth drivers in the private sector, and the ability to predict future shifts and economic emerging trends.

Faisal Alibrahim, Minister of Economy and Planning, said that MEPX, the first composite indicator, is an important step to predict the private sector’s business cycle and provide transparent, accurate and reliable data and statistics.

The Kingdom is making the fastest economic growth in 10 years. Therefore, a wider access to updated data is very important for policymakers. The ministry aims to increase the private sector’s contribution to 65% of the Kingdom’s gross domestic product (GDP), he added.

MEPX will offer economists, policymakers and business leaders more than an analysis of trajectories It will also predict growth in the short and medium terms to ensure sustainable progress, Alibrahim added.