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FINANCIAL NEWS
Saudi H1 foreign assets hit USD603b: CB
09 Aug 2012
(MENAFN) Saudi Arabia Monetary Agency (SAMA) announced that during the first 6 months of the year, Saudi foreign assets grew by USD54.65 billion to hit USD603 billion, reported Emirates 24/7.
The central bank stated that at the end of 2011, the country’s foreign assets stood at USD548 billion.
It added that deposits with banks abroad surged to USD139.17 billion, compared with USD110.37 billion a year ago.
On the other hand, it said that in 2011, Saudi Arabia’s fiscal surplus expanded to around USD81.85 billion, compared with USD23.19 billion a year earlier.
It is worth noting that the Kingdom’s current account soared from USD69 billion in 2010, to USD156 billion last year.
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