“Al Rumayyan has said the kingdom missed an opportunity to buy cheap stocks during the 2008 global financial crisis, and the PIF used the transfer from the country’s reserves to take advantage of a slump in markets during the coronavirus pandemic. The fund invested only about half of the $40 billion it planned to plow into the domestic economy last year, underscoring the difficulty for the Saudi economy to digest such vast sums. Still, the crown prince has reiterated the fund’s aim to hit the domestic investment target of $40 billion in 2022.” 

-Saudi Wealth Fund Plans to Buy $10 Billion in Stocks in 2022 [Yahoo Finance via Bloomberg]