Riyadh – Mubasher: Foreign reserves at the Saudi Arabian Monetary Authority (SAMA) represent 80% of the Saudi gross domestic product (GDP), according to a statement.

The reserves represent a good line of defense to protect the local economy from any external fluctuations, SAMA governor Ahmed Al-Kholifey told state-run Ekhbariya TV.

The Saudi government’s general reserves reached SAR 471.4 billion by the end of February, according to data released by the SAMA.

The GDP at current prices rose 7.5% in the fourth quarter of 2016 compared to the same period in 2015.