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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

Saudi Arabia to create sovereign fund for future generations

Posted on 02 January 2013

The government will allocate SR 200 billion from 2012 budget surplus to implement transport projects inside cities, bringing total spending in 2013 to more than SR 1 trillion, Finance Minister Ibrahim Al-Assaf said.
“We have not yet finalized the 2012 surplus because of new expenditures and revenues, especially nonoil revenues,” Al-Assaf told Al-Arabiya channel. He said the remaining amount from the surplus of an estimated SR 386 billion would be kept in public reserve………………………………………..Full Article: Source


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