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Saudi gov’t reserve down 2.9% in March

Saudi gov’t reserve down 2.9% in March
Saudi Arabian Monetary Authority (SAMA)

Riyadh – Mubasher: Saudi Arabia’s government reserve decreased by 2.85% year-on-year (YoY) last month, as shown by the Saudi Arabian Monetary Authority’s (SAMA) monthly bulletin.

The reserve declined to SAR 469.6 billion by the end of March 2020, compared with SAR 483.39 billion in March 2019.

On a monthly basis, the government’s general reserve decreased by 0.26% compared with its level in February at SAR 470.8 billion.

The Saudi government current account also fell by 60.4% YoY in March to SAR 39.57 billion, compared with SAR 99.85 billion for the corresponding period in 2019.

The current account declined 45% on a monthly basis, down from SAR 72.4 billion in February 2020.