| Net foreign assets at Saudi Arabia's central bank fell 1.9 percent in November from the previous month to 2.356 trillion riyals ($628 billion) as the government liquidated assets to cover a huge budget deficit caused by low oil prices.
Assets dropped 14.2 percent from a year earlier to their lowest level since October 2012, central bank data showed on Monday. They reached a record high of $737 billion in August last year before starting to shrink. The central bank acts as Saudi Arabia's sovereign wealth fund and has born the brunt of financing the deficit, which totalled 367 billion riyals this year, according to a Finance Ministry statement on Monday...............................................Full Article: Source
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