ID :
687980
Tue, 09/10/2024 - 03:52
Auther :
SPA
Shortlink :
http://m.oananews.org//node/687980
The shortlink copeid

Saudi Arabia’s Liquidity Peaks at SAR2.898 Trillion in Q2 2024

Riyadh, September 09, 2024, SPA -- The available funds (liquidity) in the Saudi economy have demonstrated a year-over-year growth rate of 9%, reaching SAR2.898706 trillion by the end of the second quarter (Q2) in 2024, marking a historic high.
According to the Saudi Central Bank (SAMA) statistical bulletin for July, the liquidity level in Q2 2024 surged by SAR238.15 billion from SAR2.660556 trillion in the corresponding period of 2023, indicative of broad money (M3).
Quarterly, liquidity also expanded by 3%, with a rise of SAR74.96 billion in comparison to the close of the initial quarter this year when liquidity stood at SAR2.823745 trillion.
From the year's outset, liquidity achieved a growth rate of 5.5%, escalating by over SAR148.83 billion from SAR2.720957 trillion at the close of January. By July's end, liquidity reached SAR2.869788 trillion.
These robust liquidity levels serve as a catalyst for the economic and commercial framework, contributing to the attainment of positive rates in the economic development process.
Breaking down the four components of the broad money supply (M3): Demand deposits, the largest contributor at 49%, totaled SAR1.421423 trillion by the close of Q2 2024. In the same period, time and savings deposits amounted to SAR903.712 billion, making it the second largest contributor at 31%.
The third major contributor to broad money (M3), estimated at 12%, was other quasi-monetary deposits, reaching SAR344.384 billion. Finally, currency in circulation outside banks stood at SAR229.187 billion, constituting about 8% of the total.
Quasi-money deposits encompass residents' deposits in foreign currencies, deposits secured by letters of credit, ongoing transfers, and repurchase agreements (repos) conducted by banks with the private sector.
Domestic liquidity comprises M1, which includes currency in circulation outside banks along with demand deposits exclusively; M2, consisting of M1 plus time and savings deposits; and broad money M3, encompassing M2 along with other quasi-money deposits.
-- SPA

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