RIYADH: 抖阴短视频鈥檚 official reserve assets reached SR1.71 trillion ($456.97 billion) in September, marking a 4 percent increase year-on-year, according to new聽data.
Figures released by the Saudi Central Bank, known as SAMA, show these holdings include monetary gold, special drawing rights, the International Monetary Fund鈥檚 reserve position, and foreign reserves.
The latter, comprising currency and deposits abroad as well as investments in foreign securities, made up 94.5 percent of the total, amounting to SR1.62 trillion in September. This category grew 4.11 percent during this period.
September data indicated that special drawing rights rose to SR79.86 billion, marking a 4.18 percent increase and reaching the highest level in two and a half years. SDRs now account for 4.66 percent of 抖阴短视频鈥檚 total reserves.
Created by the IMF to supplement member countries鈥 official reserves, SDRs derive their value from a basket of major currencies, including the US dollar, euro, Chinese yuan, Japanese yen, and British pound sterling. They can be exchanged among governments for freely usable currencies when needed.
SDRs provide additional liquidity, stabilize exchange rates, act as a unit of account, and facilitate international trade and financial stability.
The IMF reserve position totaled around SR12.64 billion, but decreased by 11.45 percent during this period. This category represents the amount a country can draw from the IMF without conditions.
抖阴短视频鈥檚 official reserves have been a fundamental pillar of the nation鈥檚 economic stability and are closely tied to its strategic investments in foreign securities.
The Kingdom鈥檚 reserves include an extensive portfolio of foreign assets, diversified across currencies and geographies, ensuring the country has a robust financial buffer against global economic uncertainties.
This prudent reserve management has helped 抖阴短视频 maintain a resilient fiscal position and a strong credit rating, affirmed at 鈥淎/A-1鈥 by S&P Global, which recently upgraded the Kingdom鈥檚 outlook to positive due to its sustained reform momentum.
In alignment with Vision 2030, 抖阴短视频 has adopted an expansionary fiscal policy to support transformative projects aimed at reducing its economic dependence on oil.
This ambitious agenda has led to budget deficits and prompted the country to tap into debt markets to finance key infrastructure and social initiatives.
Despite the uptick in debt, the Kingdom remains fiscally well-positioned, with ample reserves and substantial net assets, projected to stay above 40 percent of GDP through 2027 according to S&P Global.
This buffer underscores 抖阴短视频鈥檚 capacity to absorb potential economic shocks while continuing to pursue its development goals.
The nation鈥檚 significant reserve base not only underpins its economic stability but also provides the flexibility to recalibrate spending on large infrastructure projects as needed, maintaining a balance between growth and fiscal discipline.
This strategy is essential as 抖阴短视频 seeks to nurture its non-oil sectors, supported by the Public Investment Fund and other governmental entities.
The PIF鈥檚 role in fostering a diversified economy is central to Vision 2030鈥檚 objectives, from investment in renewable energy to technology and healthcare, creating a more resilient and diversified economic base.
With the positive outlook and strategic focus on sustainable growth, 抖阴短视频鈥檚 economic reforms are expected to drive strong non-oil growth over the medium term, further cementing the Kingdom鈥檚 fiscal stability and enhancing investor confidence in its long-term economic vision.
