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Pace of fall in Saudi reserves slows, level comfortable - cenbank governor
October 26, 2017 / 10:11 AM / 2 months ago

Pace of fall in Saudi reserves slows, level comfortable - cenbank governor

RIYADH, Oct 26 (Reuters) - The pace at which Saudi Arabia’s foreign reserves are falling has slowed and any further fall will depend on government fiscal policy, the Saudi central bank governor said on Thursday, adding that he was very comfortable with the current level.

The governor of the Saudi Arabian Monetary Authority (SAMA), Ahmed al-Kholifey, said in comments on government policy: “I don’t know what is their choice of either drawing their reserves or borrowing ... Of course, they are reducing now the deficit which is good. It’s more disciplined fiscal policy right now.”

He was speaking at an investment conference in Riyadh.

Reporting by Andrew Torchia; Editing by Edmund Blair

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