Riyadh – Mubasher: Saudi banks increased their government bond holdings by 25.08%, or SAR 71.88 billion, year-on-year in July.

Saudi banks’ holdings of government bonds jumped to SAR 358.53 billion in July, compared to SAR 286.65 billion in the corresponding month a year earlier, according to recent data released by the Saudi Arabian Monetary Authority (SAMA).

Moreover, the kingdom plans to issue bonds worth SAR 118 billion during full-year 2019 in a bid to finance the budget deficit.