Saudi Arabia’s Public Investment Fund on Track for Record-Breaking 100% Revenue Increase in 2023

The Public Investment Fund of Saudi Arabia announced that its revenues are projected to increase by 100% in 2023, reaching a whopping 331 billion riyals ($88.5 billion). This is an impressive increase from the profits recorded in the previous year, which stood at 138.08 billion riyals ($36.81 billion) for the year ending December 31, 2023, compared to losses of 58.55 billion riyals a year earlier.

The fund also revealed that the value of its assets at the end of the fiscal year amounted to a staggering 2.871 trillion riyals. Additionally, investment portfolio revenues saw a substantial increase, jumping from losses of 41 billion in 2022 to a gain of 98 billion in 2023. General reserves and profits from investments are projected to increase by 21% in