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Saudi December Net Foreign Assets Drop More Than $19 Billion

  • Net foreign assets dropped more than $100 billion in 2015
  • Situation `likely to get more difficult,' economist says
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The Saudi central bank’s net foreign assets tumbled more than $19 billion in December as the kingdom draws on reserves amid the plunge in oil prices.

Reserves declined about 3 percent to more than $608 billion, bringing the drop in 2015 to $115 billion, according to central bank data released on Thursday.