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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Saudi Arabia loses more than half of its reserves in 30 months

    Rocky
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    reserves - Saudi Arabia loses more than half of its reserves in 30 months Empty Saudi Arabia loses more than half of its reserves in 30 months

    Post by Rocky Tue 29 Aug 2017, 4:01 am


    Saudi Arabia loses more than half of its reserves in 30 months


    29/08/2017



    Saudi Arabia has lost more than half of its general reserves in two and a half years, according to official data, indicating the Kingdom's significant financial and economic risks due to the sharp drop in global crude prices since mid-2014 and the high cost of the aggression it has led in Yemen for more than two years .

    Saudi Arabia's general reserve shrank to 617.3 billion riyals ($ 164.6 billion) in July 2017, from 1.3 trillion riyals ($ 346.6 billion) in December 2014, according to the latest monthly bulletin of the Saudi Arabian Monetary Agency (SAMA) published on its website .

    According to the July bulletin, the countdown to Saudi Arabia's reserves began in July 2015 at 999 billion riyals, falling to 890.6 billion riyals in the same month of 2016, before it reached 617.3 billion riyals in the same month of 2017.

    Through the data, the country's general reserve is at its lowest level in over 8 years, since January 2009.

    The General Reserve Account of the State shall be transferred to the excess of budget revenues and shall not be withdrawn except by Royal Decree in cases of extreme necessity relating to the supreme interests of the State.

    In July, deposits with banks abroad amounted to 357.5 billion riyals ($ 95.3 billion), compared with 478.9 billion riyals ($ 127.7 billion) in the same month last year, according to the Saudi Arabian Monetary Agency. , A decrease of 121.4 billion riyals, equivalent to 25.3% of total deposits.

    Net international investment during the first quarter of this year, the last period monitored by the Saudi Arabian Monetary Agency, shrank to 2.24 trillion riyals ($ 597.3 billion) from 2.54 trillion rials ($ 677.3 billion) in the same period in 2016, ($ 784 billion) in the first quarter of 2015, which means that the Kingdom's investments fell by about 700 billion riyals (168.6 billion dollars), equivalent to 23.8% of the total investment two years ago.

    Saudi Arabia suffers from falling oil prices. The country relies mainly on oil revenues, but prices have fallen by more than half since mid-2014, negatively impacting its financial revenues.

    http://aletejahtv.org/permalink/179031.html

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