The Heritage and Stabilisation Fund is now valued at 5.4 billion US dollars.
It was set up to stabilize the economy in response to volatility in the energy sector and to save for
future generations.
Minister of Finance, Colm Imbert, says the current standing of the HSF is very encouraging in spite of
serious challenges facing the global economy.
Last year the government deposited over 300 million dollars in the HSF.
In the Senate on Tuesday, Minister Imbert said there will be no withdrawal from the fund at this time to support government’s request for additional money to manage the nation’s business.
The money will be used to supplement the infrastructure development fund which is the way the HSF stands at over 5 billion dollars.government finances state enterprises and statutory authorities.
Source: Power News Digital