Money supply grows in July
Money supply growth in Saudi Arabia, an indicator of future inflationary pressure, increased 14.2 per cent in July, up from 10.9 per cent in June, according to the Saudi Arabian Monetary Agency (Sama).
The figures show that while M1 money supply, a measure of currency in circulation and short-term deposits, has fallen the broadest measure of the all the money in the economy, M3 money supply growth, fell slightly from 16.4 per cent in June to 15.3 per cent.
Sama’s foreign assets also declined for the eighth consecutive month to SR1.4 trillion ($380bn) as the value of the agency’s foreign investments fell.
Inflation in Saudi Arabia fell to 4.2 per cent in July, down from 5.2 per cent in June.
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