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Saudi consumer spending to hit SR30bn this Ramadan

Economic experts have predicted the volume of Saudis' consumption of consumer goods during Ramadan to reach SR30bn, Arab News has reported. This is double the average of SR15bn Saudis normally spend during the holy month, said Salem Baajaja, professor of accountancy at Taif University. "During the holy month, even low-income people buy quantities of goods that are almost double to the quantity that they buy in other months of the year, and these included goods that are both essential and nonessential. There are virtually no real discounts for goods in the market," he said.