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Article: Kingdom's foreign assets drop SR 190 billion.(Saudi Arabia's foreign assets)(Saudi riyal)
- Article from:
- Saudi Economic Survey
- Article date:
- July 29, 2009
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Saudi Arabia's foreign assets dropped by about SR 190 billion in the first half of this year amid heavy public spending in a bid to boost economy dampened by global fiscal woes,the Saudi Arabian Monetary Agency (SAMA),the Kingdom's central bank,said in its June statistical bulletin.
From around SR 1.7 trillion at the end of 2008,the foreign assets tumbled to about SR 1.5 trillion at the end of June,said SAMA.
The bulk of withdrawal was from the deposits with banks abroad as they plunged by about SR 131 billion to SR 248.3 billion at the end of June from SR 379.4 billion at the end of 2008.
SAMA's investments in foreign securities,which account ...