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Monday, 29 May 2017

Saudi Arabian Net Foreign Assets Dip Below $500 Billion in April - Bloomberg

Saudi Arabian Net Foreign Assets Dip Below $500 Billion in April - Bloomberg:

"Saudi Arabia’s net foreign assets dropped below $500 billion in April for the first time since 2011 even after the kingdom raised $9 billion from its first international sale of Islamic bonds.

The Saudi Arabian Monetary Authority, as the central bank is known, said on Sunday its net foreign assets fell by $8.5 billion from the previous month to about $493 billion.

“It’s surprising,” said Monica Malik, chief economist at Abu Dhabi Commercial Bank. “We had expected to see a rise in net foreign assets. There are limited signs of increased government spending in the economy.”"



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