RIYADH: Reflecting robust economic growth, 海角直播鈥檚 financial markets reported a remarkable performance by the end of 2022, surpassing the strategic plan goals for 2022 in a number of indicators.聽
The Kingdom鈥檚 Capital Market Authority聽witnessed聽an uptick in 2022, with 49 new listings, beating the projected 24 for that year, marking a completion rate of 204 percent, according to a statement by Mohammed El-Kuwaiz,聽chairman聽of the authority.聽
The stock market鈥檚 capitalization as a proportion of the country鈥檚 gross domestic product also increased by 91 percent, exceeding the聽initial聽Vision 2030 strategic聽objective聽of 77 percent.聽
Furthermore, the debt instruments market had initially aimed to聽comprise聽18.7 percent of the GDP. However, by the end of the year, it exceeded this target, constituting 32 percent of the GDP, achieving a completion rate of 171 percent.聽
El-Kuwaiz聽noted that these figures and other achievements contributed to making the market a model to be followed among the regional markets.聽
He added: 鈥淎s we celebrate this year鈥檚 National Day, the Kingdom has advanced 7 positions in the annual World Competitiveness Yearbook issued by the International Institute for Management Development for 2023, reaching the 17th position globally out of 64 countries that are the most competitive in the world, and the third among the G20 countries, supported by strong economic and financial performance in 2022 and improved business legislation.鈥澛
Additionally, by the close of the second quarter of 2023, the financial market聽witnessed聽a significant uptick in numbers. 聽聽
Investment funds soared to a historic peak of 1,130, marking a 34.68 percent surge from the 839 funds in the same period last year. 聽聽
Participants across both general and specialized investment funds climbed 33.5 percent year on year, reaching 901,896 from 675,465 in the same聽timeframe聽the previous year. 聽聽
The second quarter of this year also saw the ownership value of foreign investors in the primary stock market elevate to SR298.45 billion ($79.5 billion). This is聽a 5.1 percent increase from SR284.01 billion聽recorded in the second quarter of聽2022.聽
With this momentum, the CMA is now outlining its strategy spanning 2024-2026. Central to its blueprint is the聽objective聽to spur sustainable advancements in the financial realm, breaking new grounds and further strengthening the national economic fabric, El-Kuwaiz聽noted.
