Saudi oil revenue surplus to be invested in ‘resilience
Jakarta (Indonesia Window) – Surplus revenues from Saudi oil production will go into investing in “resilience,” the Saudi Minister of Economy and Planning Faisal Al-Ibrahim has said at the World Economic Forum’s Annual Meeting in Davos which was held on May 22-26.
The ‘resilience’ referred to paying off debt, replenishing reserves, and accelerating transformational projects throughout the Kingdom.
“It’s ultimately going to help the private sector or help our investments that will open the door in front of the private sector to increase its activity,” he told Arab News at the event.
With a surplus of 15 billion U.S. dollars, some of the Public Investment Fund’s owned and led projects will be given support so that they “are delivered either sooner or more effective,” Al-Ibrahim said.
Source: Arab News
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