(Bloomberg) — Saudi Arabia’s central bank depleted its net foreign assets in March at the fastest clip since at least 2000, showing the severity of the damage inflicted by the slump in oil prices even as the government is only starting to lean on the holdings to cover budget needs.The drop of more than 100 billion riyals ($27 billion), or over 5% from the previous month, brought the stockpile to $464 billion, the lowest since 2011, according to data compiled by Bloomberg. In the first quarter, the government ran a budget deficit of 34.1 billion riyals, which was mostly covered …read more
Source:: Yahoo Finance
