Saudi Arabia wants to create the largest sovereign fund in the world

The Saudi Arabian Government is ready for the creation of a sovereign wealth fund that would make it independent from oil, Mohammed ben Salmane, the deputy crown prince, revealed in an interview with Al-Arabiya television, which include measures. They will be realized by 2030: almost 15 years when the whanabita regime wants to create "the world's largest sovereign wealth fund", with a budget that exceeds $ 2 trillion (about 1780 billion Euros). In the case of the amount of achievement, would beat the "treasure" that accompanies the Norway's sovereign fund, which currently has just under 870 billion dollars of investments around the world.

In the fund will flow proceeds from the sale of the participation of Saudi Aramco. "This fund – says Mohammed ben Salmane – dethrone the Norwegian (weighing 866 billion dollars) and will control more than 10% of the world's investment capabilities." The country will thus forced to listing of state giant Aramco, the company that controls the largest reserves of the country's oil.
According to analysts, because the operation is successful, national government will have to disclose the amount of its reserves.
In this way, failed an agreement in Doha summit, the Arab country will be required to invest the best of what accumulated over the years: the Saudi prince explained that the state fund will be increased to 7 thousand billion riyals ($ 2 trillion of dollars), from the current 600 billion riyals (160 billion dollars).