According to Reuters, the global economy's stability is dependent on Saudi Arabia.
News posted on
Twitter users recently circulated posts claiming that the Reuters news agency stated that the global economy's stability is dependent on Saudi Arabia.
Misbar has investigated the claim and found it to be misleading. Reuters did not publish a report stating that "the global economy and its stability are dependent on Saudi Arabia."
There was no credible source cited by our research team for the alleged news. The Reuters agency's website and official social media accounts also made no mention of the global economy or Saudi Arabia.
“Global Stability Partly Hangs on Saudi Reinvention”
On May 25, 2022, Reuters published an article titled "Global stability partly depends on Saudi reinvention" online. The article, which was released in conjunction with the World Economic Conference in Davos, Switzerland, reports on economic indicators in Saudi Arabia.
According to Lauren Silva Laughlin's article, Saudi Arabia's economy is "projected to expand 8% this year, with Saudi oil giant Aramco planning to spend up to $50 billion on projects that promote long-term energy demand."
Saudi Arabia in the World Economic Forum
During the event, Saudi Arabia's Minister of Finance, Mohammed al-Jadaan, told Reuters that the country is in the final stages of developing its fiscal sustainability policy.
"Under that policy, our reserves must not fall below a certain percentage of GDP." "It would be in the double digits," Jadaan estimated. He also stated that any surplus funds could be directed to the Public Investment Fund (PIF), Saudi Arabia's $600 billion sovereign wealth fund, and the National Development Fund.