Shura Agrees to Cut $2 for Generations Reserve Fund from Every Oil Barrel above $80 Price
2017-12-07 - 11:03 م
Bahrain Mirror: The Shura Council approved in its session held recently a bill that provides for the deduction of one US dollar from the price of each barrel of crude oil that costs between $40 and $80, and two dollars from every barrel of crude oil whose price exceeds $80.
The rationale of the proposal is that it comes from the concern to increase the savings for future generations while the prices of the country's main natural resource are currently increasing, especially since it is expected to be depleted in the future.
For his part, the CEO of the Generations Reserve Fund, Ibrahim Mohammed Abel, said that since 2012, the Board of Directors of the Fund has started to invest outside Bahrain. Since 2014, investments were diversified geographically.
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