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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

OECD calls on Australia to mull sovereign fund

Posted on 14 December 2012

Australia should look at a sovereign wealth fund to profit from the revenues of its China-fuelled mining boom, the Paris-based Organisation for Economic Cooperation and Development (OECD)club of rich nations said , describing the robust economy’s outlook as positive. The country dodged recession during the financial crisis due to its mining-powered economy, but slowing commodity prices have started to hurt growth while a high Aussie dollar has hit manufacturing and other industries.
“The authorities should consider creating a stabilisation fund to accumulate mining-related revenues when they are unusually high to insulate budget and spending, thereby reducing the risk of pro-cyclical fiscal policy,” it said………………………………………..Full Article: Source

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