Finance Minister outlines Future Reserve Fund’s positive results

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Manama, Jun 27 (BNA): Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa stressed the crucial role of the Future Generations Reserve Fund, within the wide-ranging development led by His Majesty King Hamad bin Isa Al Khalifa, supported by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.  

 

“The Future Generations Reserve Fund has been able to achieve more positive results in various investment assets despite the challenges and economic developments” he said.

 

He pointed out the solidarity of all and the efficiency of the young national cadres in the administrative and technical staff of the Fund, which will enable the achievement of all strategic  priorities and strategic plans of the Fund.  

 

Citing financial results for the fiscal year ending on December 31, 2021, he said that  the fund has been able to record an increase in its assets by 20.4% on an annual basis, reaching a total value of $626.9 million, and also recorded a positive return on investments of 10.4% and an average return over 5 years. By 7.4%.

 

“Financial results for the fiscal year ending on December 31, 2021 showed a total comprehensive income of $50.8 million”, he said.

 

He noted that final financial statements scrutinized by the National Audit Office  confirmed the standing of the fund and cash flows during  the said financial year, in accordance with the requirements of International Financial Reporting Standards.

 

He affirmed that the Future Generations Reserve Board will continue to perform its tasks towards achieving more desired achievements and aspirations for the benefit of the future generations.

 

This will be achieved by continuing to monitor economic and political developments, taking advantage of opportunities in the markets, in addition to monitoring the distribution of the portfolio’s assets and restructuring them in line with the expectations of the global economic situation.

 

“In the coming period, the Board will continue its efforts to achieve the growth and sustainability of assets for future generations”, he concluded, praising the council members and executive management.  



AHN