Saudi Arabia wants to build a $2 trillion mega-fund — and fundamentally change its economy

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Saudi Arabia's Deputy Crown Prince Mohammed bin Salman reacts upon his arrival at the Elysee Palace in Paris, France, June 24, 2015. 

Saudi Arabia plans to set up a $2 trillion megafund for post-oil era, Bloomberg reported on Friday, citing Saudi deputy crown prince Mohammed bin Salman.

"Deputy Crown Prince Mohammed bin Salman laid out his vision for the Public Investment Fund, which will eventually control more than $2 trillion and help wean the kingdom off oil," Bloomberg said on its website.

It said it had conducted a five-hour conversation with the senior Saudi prince who oversees ministries including finance, oil and the economy through the Council for Economic and Development Affairs.







(Reporting by Sami Aboudi; Editing by Alison Williams)

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