|29 August, 2019

Saudi general reserves decrease by 13.3% in July

The government current account surged 166.35% year-on-year

The Kingdom Tower is seen in Central Riyadh, Saudi Arabia. Image used for illustrative purpose.

The Kingdom Tower is seen in Central Riyadh, Saudi Arabia. Image used for illustrative purpose.

REUTERS/Peter Macdiarmid

Riyadh –  Saudi general public reserves went down by 13.25% in July 2019, compared to the same month a year earlier.

The kingdom’s general reserves amounted to SAR 497.6 billion by the end of July 2019, versus SAR 573.67 billion in the comparative period of 2018, according to the monthly bulletin by the Saudi Arabian Monetary Authority (SAMA).

The government current account surged 166.35% year-on-year to SAR 64.32 billion during July 2019, from SAR 24.15 billion in the corresponding period a year earlier.

On a monthly basis, Saudi current account declined, compared to SAR 100.1 billion last month, SAMA’s data showed.

Deposits of public funds and agencies at SAMA grew to SAR 129.49 billion in July versus SAR 105.43 billion the year before.

Source: Mubasher

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