PIF spending to hit $70bn a year early, says IMF

AGBI

PIF spending to hit $70bn a year early, says IMF

$30bn increase on 2024 Budgets ‘may be underspent’ Call for transparency Saudi Arabia’s Public Investment Fund will raise its annual spending to $70 billion in 2025, a year earlier than previously announced, according to an International Monetary Fund official.  PIF’s governor Yasir Al-Rumayyan told a Saudi investment summit in February that the sovereign wealth fund would increase its annual capital spending from around $50 billion a year to $…