Consumer spending in Saudi Arabia grows in July| MENAFN.COM

Sunday, 05 February 2023 01:45 GMT

Consumer spending in Saudi Arabia grows in July


(MENAFN) Consumer spending in KSA enhanced in July, as POS transactions and ATM withdraws; both recorded their best annual increase rates in almost nine months.

Recently, credit to the private sector continued to fall, indicating sluggish private sector economic activity.

Furthermore, the government has raised another SR13bn in August this year amid a domestic Islamic bond sale in order to fund its budget deficit.

In addition, the kingdom's financial position enhanced more in Q2 this year, helped by higher oil revenue and reduces in spending.

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