| The fall of crude oil prices points to the need for Saudi Arabia to have an active sovereign wealth fund, said Prince Alwaleed bin Talal, chairman of Kingdom Holding Co. This will be similar to the sovereign funds in Kuwait, Abu Dhabi and Norway, he said.
“Clearly the income from our sovereign wealth fund would not cover all our budget, but at least should cover a good size of it,” said the prince. ddressing reporters in Jeddah, he also said that the fall of oil below $80 a barrel proves that Saudi Arabia’s reliance on petroleum revenue is “dangerous”...............................................Full Article: Source
|