RIYADH: Saudi Arabia’s Crown Prince Mohammed bin Salman said on Sunday that the Kingdom’s Public Investment Fund invested SR84 billion ($22.4 billion) locally in 2021 and is planning to invest another SR150 billion in 2022.

The Kingdom is generating revenues from different sources and increasing spending efficiency at the same time, the Saudi Press Agency quoted the crown prince as saying.

Saudi Arabia in its 2022 budget is committed to maintaining spending as per its medium-term plan announced last year, he said.

The 2022 budget aims to achieve post-pandemic financial and economic targets for the country, the crown prince said.

He added that total spending in the Kingdom will reach SR7.2 trillion in 2030, including PIF investments, and private sector and government outlays.