SAMA: State general reserve reaches SR337.8 bln by the end of March

The statistical data of the Saudi Central Bank revealed a decrease in the government reserve during March to SR 337.8 billion, a decrease of SR 1.2 billion, or 0.3%, from its levels in February, which were SR 338.961 billion, while it decreased by SR 25.2 billion riyals, or 6.9%, from its levels in March 2021, which were SR 362.952 billion.

According to the Saudi Central Bank’s Monthly Statistical Bulletin of March 2022, the government current account rose to SR 99.688 billion at the end of March 2022, an increase of SR 70.6 billion by 242%, compared to its levels in February 2022, which were SR 29.128 billion, while a rise of SR 15.4 billion was recorded by 18.3%, compared to its levels in March of 2021, which was SR 84.3 billion.

During March 2017, SAMA merged the allocations for government projects with the state’s general reserve under one item (the state’s general reserve).

The state reserve account consists of the surplus that is transferred in the budget revenues, and it is not permissible to withdraw from it except by a royal decree in cases of extreme necessity related to the higher interests of the state.