Algeria’s FRR among world’s 15 largest sovereign wealth funds

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Algiers June 10 (AE&B)-- Algeria’s Revenue Regulation Fund (FRR) is among the world’s fifteen largest sovereign wealth funds, the Las Vegas-based Sovereign Wealth Funds Institute (SWF) has reported.  Of the 67 sovereign wealth funds identified by the institute in the world, the FRR of Algeria is ranked 14th with an equivalent amount of $ 77.2 billion, the source said in its updated June 2013 data. In Africa, Algeria tops the rankings, followed by Libya (17th place in the world) with a ruler 65 billion fund, Botswana (38th worldwide) with $ 7 billion, Angola (45th place) with $ 5 billion, and Nigeria (50th) with one (1) billion, while funds sovereignty of other African countries each have a value of less than one (1) billion . In the Arab world, the FRR of Algeria is ranked in 5th place, overtaken by the sovereign fund of Abu Dhabi, respectively ($ 627 billion), Saudi Arabia ($ 533 billion), Kuwait ( $ 342 billion) and Qatar ($ 115 billion). The first three sovereign wealth funds in the world are those of Norway ($ 716 billion), Abu Dhabi, and China has 4 funds sovereignty which the most important is ranked third worldwide with 568 billion. The FRR, established in 2000, absorbing the difference between the inputs of the actual oil taxes, generated by oil prices above $ 100, and those budgeted oil taxes, based on a fixed barrel to 37 dollars. The total amount of funds 67 national sovereignty identified totaled 5.402 billion dollars in June 2013 (against 5.019 billion dollars in June 2012) which 3.150 billion from resources of oil and gas (58%) and 2.252 billion dollars of other resources (42%), yet precise SWF institute.

 

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