Riyadh – Mubasher: Investments of the Saudi Arabian Monetary Authority (SAMA) are diversified in a slew of fields and US treasuries are not the only main investment channel for SAMA, governor Ahmed Alkholifey said on Wednesday.
Diversification of bond issuance domestically and internationally has contributed to alleviating pressure on liquidity, Alkholifey added.
SAMA will announce a raft of programmes in the coming period in a bid to raise e-payments and slash reliance on cash, he noted.
SAMA’s inflation did not exceed 3% backed by reserves which are more than SAR 1.8 trillion, the governor said.
The kingdom's 2018 budget focuses on stimulating the private sector, especially the small and medium enterprises (SMEs).
On Tuesday, Saudi King Salman bin Abdulaziz announced the new year budget, which is considered the largest budget ever for spending in the Kingdom’s history.
