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FINANCIAL NEWS
Saudi SAMA’s revenue drop to USD546.7bn
31 Oct 2016
(MENAFN) Net foreign assets at Saudi Arabia’s SAMA decline by USD7.4bn to USD546.7bn in Sep from the previous month.
Furthermore, assets shrank by 15.5 percent from a year earlier to their lowest level since Jan 2012, which reached a record high of USD737bn in August 2014.
In addition, foreign bank deposits shrank by USD5.1bn from the previous month to USD114.4bn in Sep.
The government has been borrowing locally and abroad to cover part of its deficit, which reached almost USD100bn last year.
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