358 billion riyals of the government’s general reserve … and a trillion riyals of foreign assets

The monthly report of the Central Bank showed that the general reserve of the government decreased by 23.6% by the end of last December 2020, on an annual basis, by 111 billion riyals, and it decreased on a monthly basis by 14.66%. Against 469.625 billion riyals in the same month of 2019, and the government’s general reserve in November was about 420.347 billion riyals. The government’s current account rose on an annual basis by 30.60% to 77.87 billion riyals by the end of December 2020 compared to 59.62 billion riyals for the same month of the previous year. The current account of the government increased by 42.61%, on a monthly basis, as it recorded last November about 54.6 billion riyals.

On the other hand, the Kingdom’s foreign reserve assets recorded a decline of 9.19% by the end of 2020 year on year, with a decrease of 172.2 billion riyals from its level at the end of the previous year. The foreign reserve assets, according to the monthly report issued by the Central Bank of Saudi Arabia, “SAMA”, fell to 1.701 trillion riyals, compared to their value of 1.873 trillion riyals at the end of December of 2019. Reserve assets were affected by a decrease in investments in securities abroad by the end of 2020 by 7.1% on the basis of Annual, equivalent to 84.75 billion riyals, and foreign exchange and deposits abroad declined by 91.75 billion riyals, or by 14.4% by the end of 2020 on an annual basis, to record 545.43 billion riyals, compared to its value of 637.19 billion riyals (169.92 billion dollars) at the end of the previous year. On the other hand, the value of the reserve position at the International Monetary Fund increased by 44.8% by the end of 2020 to 13.66 billion riyals, compared to 9.43 billion riyals.

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