Trump heads to Saudi Arabia with $1 trillion investment wish List

WORLD, May 12 (YPA) -US President Donald Trump is expected to arrive in Saudi Arabia on Tuesday with a $1 trillion wish list for investments in the United States — a sum equivalent to the kingdom’s entire gross domestic product last year, The New York Times newspaper reported.

In contrast, the paper indicated that Saudi Crown Prince Mohammed bin Salman had, during Trump’s term, offered investments amounting to $600 billion. However, economic experts have described both figures as unrealistic.

With a laundry list of its own costly megaprojects to build and with oil prices well below the level needed to finance its spending, Saudi Arabia is facing a budget deficit that could balloon to more than $70 billion this year. It is increasingly borrowing money rather than lending it.

Economists said that Saudi investments in the United States would probably increase during Mr. Trump’s administration, but were unlikely to even approach $1 trillion.

The figure Mr. Trump is seeking exceeds the value of all assets in the kingdom’s hefty sovereign wealth fund, which is worth about $925 billion and largely tied up in domestic holdings.

@E.Y.M