Liquidity in the Saudi economy rose to 134.4 billion riyals during the first quarter, a 4.6% increase

Domestic liquidity (available money) in the Saudi economy recorded significant growth during the first quarter of 2025, with an estimated value of 134.4 billion riyals, a growth rate of 4.6%, reaching 3,055,872 million riyals by the end of the quarter, compared to 2,921,472 million riyals by the end of the fourth quarter of 2024.

On an annual basis, liquidity increased by 232,126 million riyals, a growth rate of 8.2%, compared to the same period in 2024, during which liquidity reached 2,823,745 million riyals, according to data from the monthly statistical bulletin issued by the Saudi Central Bank (SAMA) for the month of March. The data showed a monthly growth in liquidity of approximately 1%, with an increase of SAR 22,188 million, reaching its highest levels in history. This growth in liquidity reflects the broad and comprehensive concept of money supply (M3).

Analyzing the components of money supply (M3), “demand deposits” topped the list, contributing 48% and amounting to SAR 1,461,943 million by the end of the first quarter of 2025. This was followed by “time and savings deposits,” which amounted to SAR 1,075,527 million, representing a 35% contribution.

“Other quasi-cash deposits” recorded SAR 266,867 million, representing a 9% contribution, while “cash in circulation outside banks” ranked fourth, with a value of SAR 251,535 million, representing a contribution of approximately 8%. It should be noted that quasi-monetary deposits include resident deposits in foreign currencies, deposits against letters of credit, outstanding transfers, and repo operations with the private sector. Money supply, defined as (M1), includes cash in circulation outside banks and demand deposits only. (M2) includes both (M1) and time and savings deposits. (M3) reflects the broader definition by adding other quasi-monetary deposits.