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Spending in the education sector led the dip, recording the highest decrease at 43.6%
09/12/2024 15:20 AST
Saudi Arabia's point-of-sale transactions dipped in the first week of September, dropping by 4.9 percent from the previous week to reach SR13.3 billion ($3.5 billion), with the education sector leading the decline. The latest figures from the Saudi Central Bank, also known as SAMA, showed that spending in the education sector led the dip, recording the highest decrease at 43.6 percent, with total transactions reaching SR350 million. This week marks the third time in a row the education sector witnessed a decrease in spending after surging for four consecutive weeks, coinciding with the start of the academic year on Aug. 18. During the first week of September, spending on public utilities saw the second-largest decline at 25.1 percent to SR59 million. Spending on culture and recreation recorded the third biggest dip with a 12.2 percent negative change, reaching SR293.4 million. Expenditure on miscellaneous goods and services recorded the smallest decline at 0.7 percent, reaching SR1.57 billion during this period.
Arab News
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Gulf Cooperation Council retailers faced increasing pressure to stand out as competition in the region's retail sector intensifies, according to a recent report. US-based management consulting firm
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Saudi Arabia's top council on economic affairs reviewed a number of reports during a virtual meeting held on Wednesday, the Saudi Press Agency reported. The Council of Economic and Development Affai
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15/09/2024
RIYADH: Three employees of the Zakat, Tax, and Customs Authority at the King Abdullah Port in Rabigh have been arrested after receiving bribes from six residents.
The bribes amounted to SR2,
Arab News
14/09/2024
Saudi Arabia's annual inflation rate reached 1.6 percent in August compared to the same month last year, driven by higher housing costs, official data showed.
According to the General Autho
Arab News
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