Saudi Arabia's foreign reserves to hit $581bn by end of 2022, Jadwa says

[BHAN85]

I have recently come to the same conclusions that US will never allow that kind of money to depart the economy..They already have billions of Iranian and Russian
$$$$ confiscated (so much for banking principals!!) .US deficit accumulated is so large that they will never be able to allow any sovereign wealth fund to leave their economy..no country should trust western banking system..remember wealth of many countrie is just all numbers in their computers..when they decide those numbers can all become " 0000.00",just needs a Trump like signature!!...when they zero your account then what are you going to do..invade US of A??

Venezuela money too. And Libya gold.

Westerners states are serial thieves. They can not be trusted, and their moral decadence can not be hidden anymore.

 

[ProudPak]

Even if it’s true, at least now the Saudis are spending it to industrialize their country and diversifying their economy (under vision 2030), which open up job opportunities for people from the region. It’s better (for the people of the region as well as the Saudi nationals) then the money being invested in western stock markets as the stocks are about to tumble. If Saudi investment in turn desert land into arable land becomes economically feasible it could help many countries, including Pakistan.

You belive that??? Good

 

[FuturePAF]

You belive that??? Good

Anything in that direction is better then what is being done now. $2 Trillion in a western stock market sovereign wealth fund will start to lose vale as stocks dip and the dollar loses its value with money printing. The Saudis will realize what’s happening to their investments and they will spend on whomever to get the industrial machinery and ToT them need to diversify their economy. They’ve lived through a decline in living standards just pre-COVID when oil prices were low, and know they need to diversify. Will they reach their goal by 2030, I doubt it, but maybe 2035 or 2040. They know they have a large workforce all around them and two large markets to their northwest and east, and well as a few smaller but growing markets closer still to the south west and directly east.

 

[Corruptistan]

I bet the money is in America. Looool ... need I say more

Arabs have been great businessmen for millenia. Their investments are spread across the entire world with a small minority being invested in the US. Take a look at the Arab sovereign wealth funds and in which sectors they have invested their wealth in.

Their leadership is a bit wiser than our khassi generals.

What the hell are you on about? The US is just one of the countries not the only country where KSA has invested its money.

Let it go, bhai.

@Khan2727 Khan sahab, I have an exam in two hours and I have to revise the syllabus so can you kindly post the stats about KSA's foreign investments and its plans to diversify its economy.

Insha’Allah your exam went as desired.

I cannot answer your question properly but I would think that much of it is/will be invested in education, healtcare system, infrastructure, industralization of the country, investments home and abroad, military, renewables, mineral sector, climate projects such as reforestation etc. on top of my head.

PIF - Public Investment Fund | PIF

PIF is a global and domestic investor. As one of the world's largest sovereign wealth funds, PIF is a key driver of Saudi Vision 2030, with HRH Crown Prince Mohammed bin Salman Al-Saud as Chairman.

www.pif.gov.sa

@BHAN85

I agree with you however the dollar is the global currency that most of the global financial market is “dependent” on. Until alternatives emerge this will not change.

 

[Corruptistan]

Another thing to remember. Foreign-exchange reserves and sovereign wealth funds are two different things.

List of countries by foreign-exchange reserves - Wikipedia

en.wikipedia.org

List of countries by sovereign wealth funds - Wikipedia

en.wikipedia.org

KSA has sovereign wealth funds with a combined value of almost 1.5 trillion USD. The GCC combined has sovereign wealth funds worth over 3.5 trillion USD.

That is old data too, I am sure the value has risen due to the higher oil and gas prices this year.

Due to the global inflation and emerging global economic recession, now is the time for the likes of Saudi Arabia, GCC, Russia etc. to make bargain deals and investments in several key sectors IMO.

As a side note, surprised to see tiny Switzerland have the world’s 3rd largest foreign-exchange reserves. Impressive.

 

[ProudPak]

What the hell are you on about? The US is just one of the countries not the only country where KSA has invested its money.

Looool truth hurts

And now watch th3m kill MBS as he humiliated Biden. That's what getting in bed with Israel does ask Egypt

Arabs have been great businessmen for millenia. Their investments are spread across the entire world with a small minority being invested in the US. Take a look at the Arab sovereign wealth funds and in which sectors they have invested their wealth in.

Their leadership is a bit wiser than our khassi generals.



Let it go, bhai.


Insha’Allah your exam went as desired.

I cannot answer your question properly but I would think that much of it is/will be invested in education, healtcare system, infrastructure, industralization of the country, investments home and abroad, military, renewables, mineral sector, climate projects such as reforestation etc. on top of my head.

PIF - Public Investment Fund | PIF

PIF is a global and domestic investor. As one of the world's largest sovereign wealth funds, PIF is a key driver of Saudi Vision 2030, with HRH Crown Prince Mohammed bin Salman Al-Saud as Chairman.

www.pif.gov.sa

@BHAN85

I agree with you however the dollar is the global currency that most of the global financial market is “dependent” on. Until alternatives emerge this will not change.

My simpleton

Checkout where the diversification is. When the west decides they freeze all your assets globally. They control the finance and you can't do anything about it when they turn on you.
So I agree pakistan generals are bad bad bad but Arab rulers are no better.

 

[Corruptistan]

My simpleton

Checkout where the diversification is. When the west decides they freeze all your assets globally. They control the finance and you can't do anything about it when they turn on you.
So I agree pakistan generals are bad bad bad but Arab rulers are no better.

So I am the simpleton for stating that only a small amount of their wealth and investments are based in the US?

Sure, but KSA is not your average country. They can’t target it without destroying themselves due to the oil for dollar scheme that has kept the global financial system running for the past 50 years. If they attempted that, KSA would immediately turn towards China and Russia even more than what is already the case. Along with KSA most Arab countries/many Muslim ones would follow and thus most of the oil and gas producing nations of the world.
There is also the religious angle with KSA being the qibla of Islam.

Also the leaders would have to be retarded not to take notes of what occured with the likes of Gaddafi, Saddam and other Arab leaders.

MBS has shown that for him it is KSA first. If anything the Russia-Ukraine conflict showed that already as did the emptyhanded Biden visit.

There have been a lot of bad Arab leaders and many continue to rule but nobody comes close to our useless establishment and no country in the Muslim world with such a big population and potential has been as mismanaged and wasted so much potential. It is criminal.

Moody’s expects Saudi economy to grow an average of 3.9% for next four years​

Moody’s expects Saudi economy to grow an average of 3.9% for next four years

RIYADH: Saudi Arabia’s economy is forecast to grow at an average rate of 3.9 percent between 2022 to 2026, according to credit rating agency Moody’s Investors Service. In its annual credit analysis, Moody’s affirmed Saudi Arabia’s rating at ‘A1’ with a stable outlook, primarily driven by its...

www.arabnews.com

 

[Corruptistan]

https://twitter.com/x/status/1551497143143305217

Translation:

Saudi Arabia in May 2022: Products were exported to the world with a value of 144.1 billion while imports were only valued in 53.9 billion - : The most important non-oil Saudi exports to the world:
1- Metal
2- Chemicals
3- Plastics and rubber
4- Ordinary Metal
5- Carts products
6- Aircraft products
7- Products of ships
8- Transportation Equipment Products

https://twitter.com/x/status/1551507136060039168

Translation:

By God, can you answer if Saudi Arabia exports solar panels and what is the volume of exports?

https://twitter.com/x/status/1551521173548171264

Translation:

The volume of exports I do not know at the moment, but for export and industry, we have multiple factories in Riyadh, a factory in Hail, and a huge factory under construction in Tabuk, which is the largest in the Middle East and the Arab world… + The first accredited laboratory in the world was inaugurated to examine the efficiency and reliability of solar panels in Riyadh, and it is the only one in the world now.


So a surplus of 90 billion USD in just 1 month alone.

Saudi non-oil exports rise 27% to $7.4bn in May​

Saudi merchandise imports increased by 21.8 percent to SR53.9 billion in May 2022 compared to SR44.2 billion in May 2021 (Shutterstock)

25 Jul 2022 06:07:46 GMT9
Rinat Gainullin

RIYADH: Saudi Arabia’s non-oil exports, including re-exports, increased by 26.7 percent in May to SR27.9 billion ($7.42 billion), compared to SR22 billion recorded during the same period last year, according to revised data released today by the General Authority for Statistics.
The growth in non-oil exports was driven by products of the chemical and allied industries which accounted for 35.3 percent of total non-oil merchandise exports, followed by plastics and rubber products.
Saudi total merchandise exports, including crude and refined oil, grew 83.4 percent to SR144.1 billion in May 2022, up from SR78.6 billion recorded in May 2021.
GASTAT data revealed that this increase originated mainly from oil exports, which rose by SR59.7 billion or 105.5 percent in the same period. The share of oil exports in total exports increased from 72 percent in May 2021 to 80.6 percent in May 2022.
This comes as Saudi merchandise imports increased by 21.8 percent to SR53.9 billion in May 2022 compared to SR44.2 billion in May 2021.
This helped Saudi achieve a trade surplus as the ratio of non-oil exports to imports increased by 51.8 percent in May from 49.8 percent in May 2021.
However, when compared on a month-on-month basis, the non-oil exports decreased by SR0.03 billion or 0.1 percent from April 2022.
Saudi Imports also decreased by SR2.2 billion or 4 percent in May compared to April 2022.
China remains the top importer of Saudi Arabia with SR19.2 billion, accounting for 13.3 of total exports, followed by India and Japan, which imported SR14.7 billion and SR12.5 billion worth of merchandise, respectively, in May.

Saudi non-oil exports rise 27% to $7.4bn in May

Rinat Gainullin RIYADH: Saudi Arabiaâs non-oil exports, including re-exports, increased by 26.7 percent in Mayã»ã»ã»

www.arabnews.jp

Promising news.