Saudi deflation to persist in Q4 amid lack of fiscal balance: SAMA

06/11/2017 Argaam

 

According to figures released in Q3 2017, Saudi inflation continued to stay in the negative territory but at lower rates, Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank, said.

 

Deflation may persist in the fourth quarter in case none of the fiscal balance initiatives are implemented soon. Inflation is expected to rally in Q4 2017, only with the introduction of the new subsidy cuts in the coming months.

 

The latest figures from the General Authority for Statistics showed that Saudi Arabia continued to see deflation in September for the ninth consecutive month with the economy shrinking 0.1 percent month-on-month. 

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