Riyadh – Mubasher: The Saudi general reserves retreated 17.84% reaching SAR 612.68 billion in October 2017, compared to SAR 745.69 billion in the year-ago period, said the Saudi Arabian Monetary Authority (SAMA).
On a monthly basis, the country’s general reserves in remained unchanged in October, at September’s levels, the SAMA added.
In March, the Saudi body reclassified the items of the governmental deposits and reserves.
General reserves consist of the surplus of budget's revenues, represent the government deposits and reserves, and includes the governmental current account.
The Saudi current account tumbled 6.7% to reach SAR 42.78 billion in October 2017, from SAR 45.87 billion in October 2016.
On a monthly basis, the Kingdom’s current account jumped 54.2% in October.
Most of Saudi Arabia expenses, such as salaries, are spent from the current account and oil and non-oil revenues are deposited in it.
