Saudi foreign reserves "to reach $595bn by 2011", plans to launch SWF this year
Posted by Editor on July 01, 2008 at 08:55 PM
Bloomberg reports that, “Saudi Arabia’s foreign reserves will increase 65 per cent to $595 billion by the end of 2010 on record fiscal surpluses, EFG-Hermes Holding SAE said.”
The article adds that, “Saudi Arabia plans to start a sovereign wealth fund with $5.3 billion this year, to be managed by The Saudi General Investment Fund.”