DOHA, April 23 Saudi Arabia's central bank
governor said on Saturday that the Kingdom's foreign currency
reserves were healthy, representing 80 percent of GDP, and that
the country's trade deficit could drop this year due to a
decline in imports.
"The trade deficit is expected to drop this year and
possibly to record as a surplus due mainly to the decline in
imports and the rising value of exports," Ahmed al-Kholifey told
state-run Ekhbariya TV.
"The state of foreign reserves ... is very good, which
accounts for 80 percent of GDP and this represents a good line
of defense to protect the local economy from any external
fluctuations," he said.
(Reporting by Ali Abdelaty; Writing by Tom Finn; Editing by