Saudi’s PIF exceeds Vision 2030 target, while GDP lags
Saudi Arabia’s Public Investment Fund has exceeded its 2024 targets for assets under management by 7%, but the kingdom fell short of other goals under its Vision 2030 plan.
PIF assets reached $940 billion as of 2024 under the kingdom’s economic transformation agenda, exceeding the annual target of $880 billion. The sovereign wealth fund is expected to reach $2.67 trillion by the end of the decade.
Unemployment rate among Saudi locals reduced to 7%, surpassing the 2024 target of 7.8% and reaching the kingdom’s 2030 goal six years early, the Vision 2030 Annual Report 2024 showed. Female labour force participation stood at 33.5%, shy of its 2024 target of 35.9%.
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