Mideast Briefing

Saudis Tackle How to Pay for Vision 2030

A wall mural displaying Saudi Arabia's Crown Prince Mohammed bin Salman, left, and Saudi Arabia's King Salman bin Abdulaziz, outside Riyadh Park shopping mall.
Photographer: Jeremy Suyker/Bloomberg

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By Matthew Martin and Christine Burke

March 18, 2024 at 1:06 PM UTC

Saudi Arabia is embarking on an unrivaled spending spree on everything from mega projects to sports and technology in a bid to prepare for a post-oil future.

It appears the country is only just getting started, with annual deployment of capital by the powerful sovereign wealth fund set to hit $70 billion a year from 2025.