FINANCIAL NEWS

Saudi foreign assets grow to USD 0.57tr

29 Jun 2016

(MENAFN) Saudi Arabia’s foreign assets increased in May for the first time in 16 months due to an USD10bn loan.

Moreover, Saudi Arabian SAMA’s net foreign assets jumped 0.1 percent to USD573bn, while foreign currencies and deposits rose to USD 198.48bn.

However, the International Monetary Fund predicts this year’s budget shortfall at 13.5 percent of GDP.

On the other hand, the price of Brent crude enhanced 3.2 percent in May, they remain below USD50 a barrel, and SAMA’s foreign assets are still down USD99bn.

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