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OIL REVENUES SOARING

Saudi foreign assets hit record $668.2bn

Riyadh, May 24, 2013

Saudi Arabia central bank's net foreign assets surged to a record high of SR2.51 trillion ($668.2 billion) in April, the official data showed.

The kingdom's M3 money supply growth too accelerated to 14.1 per cent year-on-year at the end of April, the fastest rate since October 2011, from 12.3 per cent in the previous month.

The bank lending to the private sector rose 16 per cent in April, the fastest clip so far this year, after a 15.1 per cent increase in the previous month, the data also showed.-Reuters
    

 




Tags: Saudi | foreign assets |

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