Saudi Arabia is burning through its foreign reserves at a record rate as the kingdom seeks to maintain spending plans despite lower oil prices


  • The latest data from the IMF show Saudi Arabia’s foreign reserves dropped by $16bn to $708bn in March 2015.
  • This has mainly been driven by public sector bonuses paid by King Salman after he came to power in January 2015.
  • This latest spend follows a fall of $20bn in February 2015.
  • Saudi Arabia has spent $47bn of foreign reserves since October 2014.

Saudi Arabia is burning through its foreign reserves

Source: FT.com

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