Finance Minister: HSF contains more now than in 2015


    Finance Minister Colm Imbert has dismissed claims that Government is recklessly managing the Heritage and Stabilization Fund.

    According to Mr Imbert, the Fund contains more money now, than it did in 2015.

    That he adds, comes despite significant withdrawals.

    Speaking this morning during a pre-budget event, Mr Imbert outlined the Fund’s balance in 2015, and now.

    According to the Finance Ministry’s website, the Fund generated a return of 5.10% for the financial year 2019, and 3.79% in 2018.

    Another document states that for the quarter ended June 2020, the HSF Investment Portfolio returned 8.62% with all investment mandates delivering positive returns.

    The 2020/2021 budget will be read on October 5th.