And therefore what a savings fund does is to transform the assets under the ground (in our case oil and gas) into a diversified portfolio of financial assets, which are managed so as to yield a high rate of return, which will flow back into the budget as revenue – not now—but when the oil resources have dwindled or have run out.
The ECB’s objectives are clearly spelled out in the Treaty and cannot be changed without also changing the Treaty itself. [14] These objectives define the scope and the limits of our potential actions in all areas. When it comes to climate change, our potential role could be based on both our primary and secondary objectives.