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Weekly Market Brief – 5/19/2023

May 22, 2023 Weekly Market Briefs

Saudi Arabia Macroeconomic Developments

  • Saudi Arabia’s balance of trade increased for the first time in nine months by SAR6 billion ($1.6 billion) in February 2023 compared to a month earlier, according to the General Authority for Statistics (GAStat).

 

  • According to GAStat, the Kingdom’s inflation rate remained unchanged at 2.7 percent in April compared to March 2023 and above market expectations of 2.5 percent.

 

  • Saudi Arabia’s holding of U.S. Treasuries increased by SAR16.88 billion ($4.5 billion) MoM in March to reach SAR435.76 billion ($116.2 billion).

 

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