Point-of-sale transactions in Saudi Arabia climbed last week, a growth led by jewelry purchases, which increased at 29.9%.
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Data from the Saudi Central Bank shows that spending jumped nearly 35% in the Arab country in the week leading up to Ramadan. Families typically prepare for the period and make larger purchases, mainly of food.
The country’s budget announced this Monday predicts a revenue of USD 222 billion and a deficit of USD 50 billion.
Deficit at public accounts was lower than a year ago, when it reached USD 3.6 billion.
Expenditure during international trips was up 2.44% year-on-year to USD 1.5 billion.
The country ran a BRL 13 billion deficit last month, up from a BRL 8 billion one in May 2018.
Spending by international tourists in the country totaled USD 3.24 billion in the year’s first six months. Number of visitors rose 8%.
The recent hike of the US currency against the real will cause expenditure on trips abroad by Brazilians to lose steam, according to the head of the Central Bank’s Statistics Department.
