Saudi December Net Foreign Assets Fall $19 Billion

Saudi Arabia’s central bank net foreign assets tumbled in December as the kingdom draws down on reserves amid the plunge in oil prices.

Reserves fell $19.4 billion to $608.4 billion.

The kingdom posted a budget deficit of about 15 percent of economic output in 2015.

(Corrects to remove the reference to 2006 from the second paragraph.)
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