Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, has announced that its revenues are projected to increase by 100% in 2023 to $88.5 billion. The fund reported profits of $36.81 billion for the year ending December 31, 2023, compared to losses of $58.55 billion a year earlier. The value of assets owned at the end of the fiscal year amounted to 2.871 trillion riyals. Investment portfolio revenues jumped from losses of $41 billion in 2022 to $98 billion in 2023. General reserves and profits from investments are expected to increase by 21% in 2023 to reach $707 billion.
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