Based on its role in developing the statistical sector, the General Authority for Statistics adopted the chain-linked methodology in the national accounts to calculate the real GDP. The publication of Q4, 2023 and the annual publication of the same year will be published using the new methodology instead of the previous methodology that was based on utilizing the fixed base year. Saudi Arabia is the first country in the Gulf and Arab regions and among the first G20 countries that implement the chain-linked methodology. This dynamic methodology is thought to be a useful tool for estimating the real growth rates of national accounts and for measuring economic growth rates using weights and prices from the prior year as a benchmark to provide measurements within adjacent time periods. It accurately reflects the current economic conditions of any country that employs it. Expert statisticians in the field of national accounts have pointed out that the chain-linked methodology takes into account the impact of price changes, flexibility in dealing with economic activities along with their continuous updating and accurately reflects economic changes. It also considers production structure and consumption patterns, allowing for clearer international comparisons. International statistical organizations and bodies concerned with national accounts systems urge countries worldwide to adopt the chain-linked methodology instead of the previous methodology that used a fixed base year for weights and prices, in order to accurately reflect real growth at the national level and monitor developments and achievements effectively. It is worth mentioning that the Gross Domestic Product publication is one of the releases issued by the General Authority for Statistics on a quarterly and annual basis to provide estimates of the GDP for the relevant period, expenditure components, measure the contribution of economic activities and various regulatory sectors, as well as provide modern annual economic indicators such as GDP growth rates, relative contributions of economic activities, and regulatory sectors to the GDP according to the latest international systems. It also includes many analytical tables highlighting the tracks of the national economy. National accounts publications also contribute to meeting the requirements of the Kingdom Vision 2030, regional requirements to understand the national economy, including the statistical center of the Gulf Cooperation Council, the Arab Monetary Fund, the League of Arab States, in addition to international requirements such as those of the World Bank, the International Monetary Fund, the Organization for Economic Cooperation and Development, and others. The General Authority for Statistics website provides more details about its statistical products.

Today, His Royal Highness Prince Dr. Faisal bin Mishal bin Saud bin Abdulaziz, Prince of Qassim Region, received in his office Dr. Fahad Al-Dossari, President of the General Authority for Statistics. His Royal Highness the Governor of Qassim praised the role played by the General Authority for Statistics as the only official statistical reference for implementing, supervising, and regulating the statistical work in the Kingdom of Saudi Arabia, as it provides statistical products in social, economic, and environmental fields to support policymakers and decision-makers in advancing the implementation of development plans.  The meeting included a review of the results of statistics and reports prepared by GASTAT in collaboration with all government entities and stakeholders in the region, providing accurate and comprehensive statistical data that cover all aspects of social, economic, and environmental dimensions in Qassim region.

Today, His Royal Highness Prince Faisal bin Nawaf bin Abdulaziz, Prince of Al-Jouf Region, received in his office Dr. Fahad bin Abdullah Al-Dossari, President of the General Authority for Statistics, along with several staff members, and GASTAT’s branch director in the region, Engineer Jarallah Al-Shamrookhi. During the reception, His Royal Highness was briefed on the works and efforts of GASTAT in providing population and housing statistics at the Kingdom level, specifically concerning Al-Jouf region, its provinces, and affiliated centers. He also listened to an explanation about the role of GASTAT in providing statistical data to support the development of the region, emphasizing the importance of its role and the information it provides to contribute to the development of all regions. His Royal Highness, the Prince of Al-Jouf, highlighted the wise leadership's interest in developing and enhancing the regions, praising the role of GASTAT in providing data and indicators that assist in making future decisions and directions for urban, population, and economic development, achieving goodness and prosperity for the country and its citizens. Dr. Fahad Al-Dossari expressed his gratitude and appreciation to His Royal Highness the Prince of Al-Jouf for his constant attention and continuous follow-up to GASTAT’s work in the region and his support for the branch's activities.

The team of the project of transition to accrual accounting was recognized by Dr. Fahad bin Abdullah Al-Dossari, President of the General Authority for Statistics, for meeting the project's requirements and completing its main phases. This helped GASTAT to transit to the accrual accounting principles and be involved in the release of the first national unified financial center. It is worth mentioning that the transition to accrual accounting and the adoption of international accounting standards in the public sector are initiatives stemming from the National Transformation Program, which is adopted by the Ministry of Finance through its agency for financial and accounting affairs. The project will help provide complete, accurate, and timely information about the financial center, and results of the entities’ activities and cash flows. It will also enhance supervision over revenues, expenses, assets, and liabilities, as well as develop financial departments in government entities and support decision-making processes.