10 Oct 2012
(MENAFN) The International Monetary Fund (IMF) stated that during the current year, Saudi Arabia’s net foreign assets are expected to grow by USD166 billion to USD701 billion, reported Emirates 24/7.
The IMF attributed the forecasted increase to higher oil prices and output.
At the end of next year, the country’s net foreign assets are expected to reach USD843 billion and to grow to USD953 billion at the end of 2014 and to hit USD1.5 trillion at the end of 2015.
Moreover, at the end of 2016, the assets are expected to expand to USD1.128 trillion and to USD1.213 trillion at the end of 2017.
The IMF made its 2012 forecast on the basis of a Saudi crude price of nearly USD109 per barrel, USD105 in 2013, USD98.5 in 2014, around USD93 in 2015, USD89.5 in 2016 and USD87.2 in 2017.
It is worth noting that in 2011, the Kingdom’s foreign assets reached USD535 billion.
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
26 Dec 2024
BBK proudly supports “Celebrate Bahrain” as a gold sponsor in cooperation with BTEA
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
05 Nov 2024
As part of its digital transformation journey, BBK adds Google Wallet to its range of digital wallets
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more