In Jadwa’s April 2015 Saudi Chartbook, economic data reflected strong growth in February of this year following the impact of the late January royal decrees.
Consumer spending is up, as were cash withdraws from ATMS in Saudi Arabia in February 2015.
“Cash withdrawals from ATMs recorded a significant monthly increase in response to the two month’s salary bonus, Jadwa said. In addition, bank lending to the private sector recorded healthy growth in February.
However, government deposits and reserves fell by a total of $35 billion (SR 130 billion), an all time high monthly withdrawal.
