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FINANCIAL NEWS
Saudi net foreign assets drop 1.2 percent in June
11 Aug 2015
(MENAFN) A Saudi Arabian Monetary Agency said that Arab biggest economy’s net foreign assets plunged 1.2 percent in June, falling to USD664.4 billion, as Saudi sustained its strategy in cutting reserves spending.
The International Monetary Fund expects an evident budget deficit in 2015 equaling to 20 percent of kingdom’s GDP, with reserves constant shrinking, forecast also shows a drop of USD665 billion in assets this year.
In its efforts to help cover the deficit, the government plans to raise nearly USD26 billion before 2015 ends, selling as much as USD5.3 billion of debt as one way to achieve the goal.
More News
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BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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