FinMin Expects Parliament to Debate Silver Fund Changes in Few Months

FinMin Expects Parliament to Debate Silver Fund Changes in Few Months

Finance minister Simeon Dyankov said he expects parliament to debate the proposed amendments to the Silver Fund Act in two or three months.

The final decision on the exact share of the fund's holdings available for investment -  whether it would be 30% or less -  is not as important as the principle that Bulgaria should be able to invest assets from its Silver Fund in government securities, just like all other European countries, state-run Bulgarian News Agency (BTA) quoted Dyankov as saying on Thursday.

In a bid to generate real return on the assets of the State Fund for Guaranteeing the Stability of the State Pension System Act, known as the Silver Fund, Dyankov has proposed amendments allowing 30% of its holdings to be invested in government securities in 2012 and this share is to increase by 10% every year until it reaches 70%.

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