Liquidity traded in the Saudi stock market continued to improve on a weekly basis as it increased during the last week by 7.5 percent compared to the cash flow during the previous week.
These developments came as Saudi Arabia announced Friday the launch of a series of measures aimed at stimulating the private sector and strengthening the competitiveness of a number of sectors of the national economy following the royal decree, which approved the allocation of 72 billion Saudi Riyal to stimulate the private sector.
The initiative was based on what was submitted by Crown Prince Mohammad bin Salman bin Abdulaziz, Vice President of the Council of Ministers and President of the Economic and Development Council and approved by Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud.
The Saudi economy is expected to recover and grow in the coming period due to the previously announced initiatives that include allocating $400 million to support distressed companies, a $2.66 billion project support fund, an export stimulus program of $17.6 billion and an initiative to boost export funding with $1.33 billion dollars allocated for it.
They also include the bold investment fund initiative for small and medium-sized enterprises (SMEs) for which $746.6 million have been allocated, the massive investment program of $1.33 billion and the $5.7 billion subsidized housing loans’ initiative.
On the level of trading in the Saudi Stock Exchange during the last week, the index ended its trading at a very slight decline of 0.14 percent, or a loss of 10 points only, closing at levels of 7076 points, compared to the previous week's close at 7086 points.
In a common matter, Mohammed Al Sayer, member of the Board of Directors and Chairman of the Securities and Investment Committee at the Riyadh Chamber of Commerce, expressed optimism in the future performance of the national economy and its high growth rates during 2018, pointing to the Kingdom's success in reducing the budget deficit during the current year.
