VOL. XLVI

No 7

17-February-2003

SAUDI ARABIA

Saudi Money Supply Growth Ticks Higher In 2002

The growth of monetary aggregates in Saudi Arabia has accelerated markedly on the back of higher than expected oil prices, and capital repatriation and increased bank lending have contributed to a sharp rise in domestic liquidity in 2002, according to a report published by the Economics Department of National Commercial Bank (NCB). Net foreign assets of Saudi banks rose 32.1%, total deposits were up 16.8%...