Saudi market anticipates 7B dollar inflow

Saudi Arabia expects that the new measures imposed by the Capital Market Authority on foreign money market fund investments will direct up to $7 billion towards domestic assets over the next two years. The authority has mandated a reduction in fund holdings of assets outside the Kingdom to 5%, which could reallocate between 19 billion and 27 billion riyals (approximately $7.2 billion) from abroad to the local market. Although these amounts remain relatively small—about 0.8% of the Saudi Riyal money supply—they are expected to boost liquidity in riyals, support liquidity management, and aid in the development of the local market. This comes especially as Saudi Arabia intensifies efforts to diversify financing sources and cover a budget deficit estimated at around $85 billion this year.

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