International reserves under the NBC's control include foreign currencies, gold and SDR (Special Drawing Right).
"The international reserves can secure the imports of goods and services for the next seven months," said the NBC's report released at the end of the bank's biannual meeting.
Speaking at the meeting, NBC's director general Kimty Kormoly said the country's economy is predicted to grow by 5.6 percent in 2023, up from 5.2 percent in 2022, driven by exports of garment and non-garment manufacturing products, fast recovery in tourism, agriculture, and recovery in construction and real estate.
He said the kingdom's inflation rate had declined to 1.2 percent in the first half of this year from 4.1 percent in the second half of last year.
Latest comments