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FINANCIAL NEWS
Saudi March assets hit USD675.3b: CB
29 Apr 2013
(MENAFN) Saudi Arabian Monetary Agency (SAMA) announced that in March, the Kingdom’s foreign assets increased by USD13.04 billion from a month before to hit USD675.3 billion, reported Emirates 24/7.
The central bank attributed the rise to higher global oil prices allied with the country’s higher oil output.
It added that most of the increase occurred in deposits with banks abroad, which rose to USD137.03 billion, and investment in foreign securities, which grew to USD478 billion.
It is worth noting that Saudi Arabia expects its revenue for the current year to be at USD220.76 billion, while expenditure would hit USD218.36 billion, and the surplus to reach USD2.39 billion.
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