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This is reported by Reuters, Ukrinform reports.
"I think it's time for this country to have a sovereign wealth fund," Trump said on this occasion before signing the executive order.
The President has ordered the Ministries of Finance and Commerce to submit a plan for the establishment of such a fund within 90 days. It should include recommendations on “financing mechanisms, investment strategies, fund structure, and governance model.”
US Treasury Secretary Scott Bessant told reporters in this regard that the fund will be established within the next 12 months.
“We are monetizing the active part of the US balance sheet for the American people,” said the head of the Treasury Department.
However, Reuters notes that exactly how such a fund would be structured and financed remains unclear. Several experts have said that Congress would likely have to pass new funding due to the lack of existing surplus funds.
Photo: EPA/UPG
