Riyadh – Mubasher: Saudi Arabia's general reserves tumbled 8.1% year-on-year by the end of December 2017, the Saudi Arabian Monetary Authority (SAMA) said in a report.
Government's general reserves hit SAR 589.2 billion by the end of December 2017, compared to SAR 641.4 billion in the same period a year earlier, the SAMA added.
On a monthly basis, Saudi general reserves fell 3.4% to SAR 589.2 billion, from SAR 610.2 billion.
In March 2017, the kingdom re-rated the item of government's deposits and reserves.
General reserves represent one of the items which are included in government's deposits and reserves.
The Saudi current account slid 41% to SAR 52.2 billion in December 2017, from SAR 89.1 billion the previous year.
Month-on-month, the kingdom’s current account soared 174% in December, compared to SAR 19.1 billion a month earlier.
Most of the Saudi expenses, such as salaries, are taken from the current account, while the nation's oil and non-oil revenues are used to boost spending.
