18.12.2012 - A Philippine sovereign wealth fund
Philippines could set up a sovereign wealth fund (SWF) with our excess reserves. The $14 billion mentioned above, which by the end of the year will probably be $15 billion would be the seed money. That is enough to double our infrastructure spending which is currently 2.5 per cent of GDP to the recommended 5 per cent, over the next five years. With that added spending, the government could easily meet its aspirational stretch target of growing the economy by 7-8 per cent a year. Every year, depending on how well our balance of payments performs, we could just keep adding to the SWF..............................................Full Article: Source
Print