Saudi Arabias foreign assets swelled by nearly SR352 billion in one year to an all time high of SR2.057 trillion ($548.5 billion) at the end of 2011 as a result of high oil prices and a sharp rise in the Gulf Kingdoms crude output, official data showed Sunday.
It was the biggest annual increase in the assets controlled by the Saudi Arabian Monetary Agency (SAMA) since 2008, when they rocketed by a whopping SR513 billion mainly because of a 50 percent rise in crude prices that allowed the Kingdom to record its highest fiscal surplus of SR580 billion.
The increase last year was also more than double the assets growth of around SR135 billion through 2010, when they ended the year at SR1,705 billion compared with SR1,570 billion at the end of 2009.
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