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09-03-21
Saudi wealth fund plans to insert USD40B yearly in local economy
(MENAFN)According to ratings agency S&P Global Ratings, Investments by Saudi Arabia’s wealth fund Public Investment Fund (PIF) is going to hold credit improvement amid companies in the Kingdom.
PIF is at the center of economic reforms to change the oil-dependent economy.
The fund aims to add more than SR150 billion (USD40 billion) yearly in the local economy until 2025, and to improve its assets to SR4 trillion by that date.
S&P stated that “The Public Investment Fund has recently announced investment initiatives that we expect will spur corporate credit growth, mostly in construction-related industries.”
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