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Sovereign Wealth Funds Briefing - Categorized | Financials, Market, Reserve Currencies

Under financial strains, Turkey designs “parallel budget”

Posted on 11 November 2016

Last week, Turkey’s government appointed the head of the Privatization Administration, Mehmet Bostan, as director general and board chairman of a newly established public company, the Turkish Sovereign Wealth Fund, moving a step closer to the creation of a sovereign wealth fund. The plan was first brought up in late July and hastily passed through parliament the following month.
The world’s largest sovereign wealth funds include Norway’s Government Pension Fund, the United Arab Emirates’ Abu Dhabi Investment Authority, the China Investment Corporation, the Kuwait Investment Authority and the Saudi Arabian Monetary Agency’s holdings. Generally, their revenues come from budgetary surpluses………………………………………Full Article: Source


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