Saudi Arabia's sovereign wealth fund has seen a decline in investments in gigaprojects, depreciating by $8 billion in 2024, despite increasing assets under management.

Saudi Arabia's Sovereign Investment Fund (PIF) has reported a significant reduction in investments in gigaprojects, down 12.4% to $56.2 billion. Although assets under management increased by 19% to almost 913 billion dollars, the depreciation was influenced by the fall in oil prices and the fiscal deficit. International investments also fell, with part of the increase in assets due to the transfer of shares from Aramco. Analysts warn a further fall in oil prices could hurt government revenues.