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FinancialNews


  • 08-05-13

    Saudi third after China and Japan in financial reserves

    (MENAFN) Saudi Arabia scored third in the world's largest financial reserves by the end of 2012, reported Emirates 24/7. The increase of oil prices and its exports played a major role in this process, and the country's cash and gold reserves increased by 21.5 percent. Saudi Arabia's reserves witnessed a growth by 4.3 percent from 2001 until the end of 2011, and this percentage could increase to a total of 6.5 percent by the end of 2013. Saudi Arabian Monetary Agency, which is responsible for the financial reserves, said that it increased by USD114 billion in 2012.

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