ECONOMY FINANCE&BANKING

PM Tudose: Sovereign Development and Investment Fund bill to be drafted by September

The bill on the Sovereign Development and Investment Fund (FSDI) will be drafted by September and sent to Parliament to be adopted, Prime Minister Mihai Tudose (photo) said on Friday.

“Today we’ll have the Sovereign Development and Investments Fund in a first reading following to be submitted to public debate, sent to Eurostat and by September a draft law will be lodged to Parliament,” Tudose said at the beginning of the first sitting of the new government.

In his turn, Economy Minister Mihai Fifor said that the FSDI is “the core element” of the 2017 – 2020 ruling programme.

“This fund is an economic boost measure through which, after the capital from the domestic and international market is drawn, financing sources will be set up for the profitable, sustainable investment projects, that will result into a leverage effect in the economy, leading to development, in parallel with growth in budget revenues. The idea of creating the fund was also agreed by the European and international bodies,” Fifor added.

According to him, the FSDI will be a single shareholder company – the Romanian state, throughout its functioning.

“The aim of the Sovereign Development and Investment Fund is to finance, from own sources and funds drawn, profitable and sustainable investment projects in various economic sectors. Financing will come from revenues obtained from dividends cashed from the fund’s companies, from those resulted from operations with own financial instruments and those issued by other entities, from incomes coming from the sale pf stock from its own portfolio, from loans – bond issues included – and other sources,” Fifor specified.

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