The available funds (liquidity) in the Saudi economy have marked a record year-over-year growth rate, increasing by 8.7% to hit over SAR2.91 trillion ($774 billion) by the end of August compared to over SAR2.67 trillion ($710 billion) last year, according to the data by Saudi Central Bank (SAMA).

 

Liquidity levels achieved a monthly growth of around 1.3%, with an increase of about SAR 36.848 billion compared to the end of July 2024, when it stood at over SAR2.86 trillion).

 

From the year's outset, liquidity achieved a growth rate of 6.8%, escalating by over SAR 185.678 billion from SAR 2,720,957 million (over SAR 2.72 trillion) at the close of January. 

 

These levels reflect the broad money supply (M3) as reported in the Saudi Central Bank (SAMA) monthly statistical bulletin for August 2024. 

 

According to SAMA, the robust liquidity levels serve as a catalyst for the economic and commercial framework, contributing to positive rates in the economic development process.

 

Breaking down the four components of the broad money supply (M3): demand deposits constituted the largest contributor at 49.5%, totaling over SAR1.437 trillion by the close of August. In the same period, time and savings deposits amounted to SAR929.659 billion, making them the second-largest contributor at 32%, it stated.

 

The third major contributor to broad money (M3), estimated at 10.8%, was other quasi-monetary deposits, reaching SAR313.220 billion. 

 

Finally, currency in circulation outside banks stood at SAR226.392 billion, constituting about 7.8% of the total, it added.-TradeArabia News Service