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Zimbabwe: Set up wealth fund after budget surplus

Posted on 13 March 2014

Zimbabwe should set up its sovereign wealth fund when it achieves budget surplus to avoid worsening budget deficits, Norway’s former deputy minister of finance Mr Vidar Ovesen said. Norway manages the world’s largest SWFs and has contributed about US$60 billion to the country’s fiscus from the more than US$850 billion revenue derived from petroleum since its set up in 1990.
Ovesen made the remarks during a seminar in Harare yesterday to educate law makers on the country’s new economic plan: the Zimbabwe Agenda for Sustainable Socio-Economic Transformation………………………………………..Full Article: Source


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