A government move to form a sovereign fund in Iraq that was supposed to work 18 years ago
A government move to form a sovereign fund in Iraq that was supposed to work 18 years ago
2022-01-26 07:42
Shafaq News/ The Prime Minister’s advisor, Mazhar Muhammad Salih, considered today, Wednesday, that the sovereign funds are “not difficult”, and he also said that they were supposed to work 18 years ago, that is, after the fall of the regime of former President Saddam Hussein.
Saleh said in an interview with Shafaq News Agency, “The sovereign funds that countries take are not difficult to establish, and they are part of the financial surpluses that come to protect the national economy in times of crisis or when prices drop, and they are called stability funds,” describing “such an approach as positive, logical and correct.” And the budget was supposed to have taken it 18 years ago.”
He added, “There is a tendency at the present time by the Iraqi government to establish a stability or sovereign fund to protect the public budget and the Iraqi economy.”
Saleh also pointed out that “sovereign funds have many and varied names,” noting that “the Generation Fund is whenever there are large surpluses of funds, and when the desires of the current generation are not at the expense of the desires and aspirations of the next generation, then certain sums are provided to them from The money will therefore have current and future protection for future generations.”
A sovereign wealth fund or sovereign funds is a state-owned fund consisting of assets such as land, shares, bonds or other investment devices, and these funds can be described as entities that manage state surpluses for investment and promise billions of dollars invested by states in stocks and bonds.
shafaq.com
