Sovereign wealth funds in Arabian Gulf sell off assets to plug fiscal deficits | The National

Sovereign wealth funds in Arabian Gulf sell off assets to plug fiscal deficits | The National:

"Sovereign wealth funds (SWFs) across the Arabian Gulf are selling financial assets as the low oil price hits the region’s economies.

The Saudi Arabian Monetary Authority (Sama) and the Qatar Investment Authority (QIA) are selling stakes in European companies, as the oil price slump forces Gulf states to run major fiscal deficits for the first time since 2009, and encourages SWFs to plug the gap.

Sama has withdrawn US$1.3 billion from European equities this year, according to Nasdaq estimates."



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