Saudi M3 money supply increases
The Central Bank of Saudi Arabia published figures indicating that the Saudi M3 money supply increased by 0.7% in April 06, reaching SR586.7 billion. Year-on-year M3 rose 14.2% in April, versus 11.4% in March.
Analysts attribute this slower growth to the stock market crash.
Earlier, it was reported that broad money supply (M3) rose by 6.6 percent (SR36.3 billion) to SR582.6 billion during the first quarter of 2006, compared to an increase of 3.1 percent (SR16.3 billion) during the preceding quarter.