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 Saudi Arabia lose $ 100 billion a year

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Posts : 13322
Join date : 2015-02-19

PostSubject: Saudi Arabia lose $ 100 billion a year   Thu Dec 29, 2016 12:11 pm

Saudi Arabia lose $ 100 billion a year

Today, 17:48

BAGHDAD / Sky Press:

Saudi foreign reserves declined during the year by $ 97.1 billion, on the back of falling oil prices, which is the primary supplier for the budget of the kingdom.

The Saudi Arabian Monetary Agency (SAMA) The reserves declined during the year by about 15%, from 2.383 trillion riyals (635.5 billion dollars) reached in November 2015 to 2.019 trillion riyals (538.4 billion dollars) in November 2016.

The data show that the kingdom's reserves fell, last November, a 1% (about 5.5 billion dollars), compared with October / October, during which 543.9 billion dollars recorded.

Currently, Saudi Arabia suffer from the decline in financial revenue because of falling oil prices, and in the light of this, Riyadh, announced last Thursday, 2017 year budget deficit of 198 billion riyals (52.8 billion dollars).

UK expects to reach its budget revenues in 2017 about 692 billion riyals (184.5 billion dollars), compared with expenditures of 890 billion riyals (237.3 billion dollars).

(Dollar = 3.75 Saudi riyals)

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