Riyadh – Mubasher: Saudi Arabia's liquidity levels surged by 8.60% year-on-year (YoY) to SAR 2.82 trillion at the end of May 2024, according to the Saudi Central Bank (SAMA).

This represented an increase of more than SAR 222.928 billion compared to the same period in 2023, which stood at SAR 2.60 trillion.

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

Since the beginning of 2024, liquidity has increased by 4%, equivalent to SAR 104.75 billion. At the end of January, it reached SAR 2.72 trillion.

Liquidity levels also achieved a monthly growth of nearly 1.20%, marking an increase of about SAR 32.40 billion compared to the end of April of the same year when it stood at SAR 2.79 trillion.

This growth effectively contributes to boosting the economic development process and enabling the achievement of the goals of Saudi Vision 2030.

Demand deposits, the largest contributor to the total money supply (M3), recorded a level of SAR 1.39 trillion at the end of May 2024.

Meanwhile, time and savings deposits hit a level of SAR 889.55 billion.

Other quasi-money deposits hit SAR 314.80 billion, representing a contribution of approximately 11.1% to the total money supply (M3).

The currency in circulation outside banks amounted to SAR 230.45 billion.