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Sovereign Wealth Funds Briefing - Categorized | Financials, Fund Management/Administration, Fund Profile/New Launches

PNG Sovereign Welfare Fund to manage revenue: Yauieb

Posted on 18 September 2012

The Papua New Guinea Sovereign Welfare Fund (SWF) will manage revenue from the mining and petroleum sector to support the economy and future developments. Department of Treasury deputy secretary for economic and financial policy Anthony Yauieb made the comment while discussing the fund during the National Budget Forum in Port Moresby last Wednesday.
Yauieb said the Stabilisation Fund was to manage the impact of fluctuations in mineral and petroleum revenue on the country’s economy and budget, while the purpose of the Development Fund was to provide a definite and ongoing funding source for the provision of development in key economic and social priorities in accordance with government development plans………………………………………..Full Article: Source


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