Saudi Gazette report

RIYADH — Saudi Arabia’s economy has recorded significant growth of 7.8 percent in liquidity by the end of September 2025. The annual growth amounted to SR 228.7 billion, reaching SR 3.2 trillion, compared to SR 2.9 trillion during the same period in 2024.

This increase reflects the growth of broad money supply measure (M3), according to the September 2025 monthly statistical bulletin issued by the Saudi Central Bank (SAMA). Domestic liquidity also grew on a quarterly basis by SR52.3 billion or 1.7 percent, compared to its level of SR3.1 trillion at the end of the second quarter of 2025.

Liquidity continued its upward trend on a monthly basis, increasing by SR20.4 billion, or 0.6 percent, compared to the end of August 2025, when it reached SR 3.15 trillion.

Analyzing the components of the money supply (M3), demand deposits led the way with a contribution of nearly 47 percent, amounting to SR1.5 trillion. This was followed by time and savings deposits, which recorded SR1.2 trillion, representing a contribution of 36.3 percent.

Other quasi-monetary deposits reached SR 304.4 billion, contributing 10 percent, while currency in circulation outside banks ranked fourth with a value of SR 237.3 billion, representing a contribution of 7.5 percent.

It is noteworthy that quasi-monetary deposits include residents' foreign currency deposits, deposits against letters of credit, outstanding transfers, and repurchase agreements (repos) executed with the private sector. The money supply, defined as M1, includes currency in circulation outside banks in addition to demand deposits, while M2 includes both M1 and time and savings deposits. M3 represents the broadest definition by adding other quasi-monetary deposits.