Economic updates
Our in-depth, independent reports cover the macroeconomic environment, the Saudi government’s annual budget, and Saudi Arabia’s monetary and financial developments, labor market, and inflation.
Saudi monetary update (July 2013): Flat deposits, but higher credit
Macroeconomic reportBased on data released recently by SAMA on the Saudi monetary indicators for the month of July, we highlighted a number of key updates in this report. Net credit issued to the private sector maintains positive momentum while growth of consumer lending recorded an all-time high. Loan-to-deposit ratio rises to 82.5 percent as total deposits remain flat. Money supply growth maintains a double digit growth and foreign assets continue to rise on the back of higher oil revenues.
Monetary update (June 2013): Credit expands, but not deposits
Macroeconomic reportSAMA released data on monetary indicators for the month of June. All indicators are healthy, though some decline compared with the previous month. Net credit issued to the private sector increased by SR13.9 billion to record an annual growth of 15.9 percent, total deposits slipped by SR3.6 billion, SAMAs reserve assets slipped by SR2.4 billion, and bank excess deposits contracted to SR56 billion, though they are still higher than a year earlier.
