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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Profile/New Launches

Israel: Science and Technology Committee approves gas wealth fund

Posted on 16 January 2014

The Knesset Science and Technology Committee on Wednesday approved the creation of a sovereign wealth fund intended to offset moentary repercussions of new gas exports and invest the resources for Israel’s citizens. The export of natural resources, such as gas, can lead to an influx of foreign currency, strengthening the local currency and making the country’s other goods less attractive on world markets.
Sovereign Wealth Funds can offset the phenomenon, known as “Dutch Disease,” by setting that money aside and strategically investing it over a long period of time. It can also help the government distribute the wealth from the resource to the population by channeling it toward public goods like education and infrastructure………………………………………..Full Article: Source


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