Saudi Arabia to Support Pakistan, Eyes Deals in Egypt and Turkey

Source:Bloomberg Date:09Dec2022

Saudi Arabia is also looking to do more investments in Egypt and is planning to start doing deals in Turkey, Al Jadaan said at a news conference in Riyadh.

“Our relationship with Turkey is improving greatly, and we hope to have investment opportunities,” he said. “We have started investing aggressively in Egypt and we will continue to look at investment opportunities and that is more important than deposits. Deposits can be pulled but investments stay.”

This may explain why Saudi Arabia was generous enough to bankroll Erdogan with a $5 bn  deposit to Central Bank.

What Riyadh fails to grasp is helping Erdogan in any form or manner to win elections will attract the eternal animosity of the united opposition after the elections, if Erdogan loses