The inflow of foreign funds and investments into Saudi Arabia decreased significantly in the second half of December 2001 compared with previous months. Banking sources in the Arabian Gulf region estimate the value of Saudi funds abroad returning to the Kingdom following the September 11 attacks on the United States at 30.75 billion Saudi Riyals ($8.2 billion), reported Al-Hayat . Earlier forecasts predicted $40 billion worth of Saudi funds to return out of the existing $600 billion that were abroad prior to the attacks. Econimists believe that Saudi investments abroad will continue to be brought home, especially since American authorities have frozen funds belonging to Arab families. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
