Kafalah national program has access to a massive amount of data, but struggles a lot to measure the economic impact, such as the percentage of SMEs growth, the number of jobs created, and the percentage of growth in GDP, due to challenges in data integration, analysis methodologies, and the need for more robust metrics to accurately assess these outcomes.
The Center at the Finance and Digital Economy and Sustainable Energy Systems have developed an economic model to assess the impact of the Kafalah program on national economic indicators using quasi-experimentation and data analytics.
he Impact Economic Model, a three-indicator competitive model, provides a comprehensive framework for analyzing economic performance. By integrating various economic indicators, this model allows for a nuanced understanding of GDP growth in Riyals. The Innovative Assessment Tool enhances this analysis by offering real-time data and insights, facilitating informed decision-making. Together, these tools empower policymakers to drive sustainable economic growth and improve overall financial stability.
17% of small and medium enterprises (SMEs) have experienced significant growth, contributing to the creation of one million jobs. This expansion has resulted in an impressive SAR 12 billion in economic growth.
Sustainable Development Goals: