Trump declares that outcome of his Saudi trip are investments in U.S. economy

U.S. President Donald Trump said that his visits to Saudi Arabia, Qatar and the United Arab Emirates (UAE) resulted in agreements on investments of 12-13 trillion dollars in the American economy, TASS reported.

"Nothing like this has ever happened to the US. Trillions of investments. We have agreed on about $12-13 trillion. We have reached $12-13 trillion because of projects that are already known about and some we will be announcing in the very near future," he said at a meeting of USA and UAE business representatives in Abu Dhabi, which was also attended by the crown prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan.

According to Trump, the previous administration not only failed to do anything similar, but also lost $8 trillion more. On May 15, the U.S. leader expressed hope that the investments would help cover the U.S. national debt.

The U.S. national debt currently exceeds $36.2 trillion. The Congressional Budget Office estimates that in 2034 it could exceed $50 trillion. In late March, the office predicted that the United States government would face default by August or September if the debt ceiling is not raised. The debt ceiling reflects the amount of money the Treasury Department can borrow to finance the activities of the U.S. federal government.