Saudi Arabia’s broad money supply (M3) growth slowed in May 2026, signaling a modest easing in liquidity expansion across the economy. Year-over-year M3 growth came in at 8.90% in May, down from 10.00% in April 2026.
The data, updated on 30 June 2026, show that while money supply is still expanding at a solid pace compared with a year earlier, the rate of increase has moderated from the previous month’s double-digit growth. Both figures are measured on a year-over-year basis, comparing each month to the same month a year earlier, indicating that underlying monetary conditions remain supportive but are no longer accelerating.
For policymakers, the shift from 10.00% to 8.90% year-on-year growth in M3 may suggest a tentative cooling in credit and deposit expansion, which could influence expectations around future monetary and financial conditions in the Kingdom.
