The possibility of reinvesting part of its revenues from privatizations will be examined by the Superfund. Having activated its investment role in 2022, the superfund is steadily evolving into a public investment fund in order to create value and prosperity by achieving long-term returns. In this context, it is looking for a consultant who will evaluate and do a feasibility study to improve its investment capabilities, with the aim of increasing the impact of the Superfund on the Greek economy.
As it was seen, from the research on the levels of knowledge vis-a-vis the Superfund in 2022, as the main expectation of the citizens, investments in the Greek economy stood out with a percentage of 32%, followed by safeguarding the public interest with 26%.
Evaluation
The main subject of the consultant’s work, according to the call for interest, will be the evaluation in economic and financial terms of the case of part of the revenues from the privatizations being directed to investments in the Greek economy, which will be carried out through the Superfund. The study will “weigh” and should clearly capture the effect that the reinvestment of revenues from privatizations will have.
Today, these funds go to service the public debt. In order to direct part of these funds to investment activities, the impact on both the state coffers, eg the budget, and the Superfund should be assessed. In addition, since the mission of the Superfund is to invest in activities that will create value in the long term for the Greek economy, all stakeholders and society, various scenarios for the distribution of these funds should be analyzed, as well as the benefits that can “return » in the national economy.
Investments
In the framework of the 2022-2024 Strategic Plan, the Superfund aims to increase by 15% the value of public property and to improve by 60% the yield of dividends to the Greek State. The first batch of direct investments will reach €50 million by 2024, in order to carefully craft its investment profile as a Sovereign Wealth Fund.
The invested funds should result in the creation of additional resources to strengthen the Public Investment Program (PIP), the reduction of the public debt and new direct investments.
International alliances
At the same time, the Administration of the Superfund began to build a network of international alliances, with corresponding Public Investment Funds, in order to develop synergies and co-investments, to highlight investment opportunities in Greece, but also abroad, and to promote investments in cutting-edge sectors. The Greek public investment fund is among the 46 members of the One Planet SWF network, which have more than 37 trillion dollars assets under management and ownership, while at the same time, it participates in the newly created Network of Public Investment Funds of Malta, Egypt, France, Spain (EMENA Foundation), geographically covering an area in a region where the investment financing gap amounts to 700-900 billion dollars.
Latest News
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight
ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y
The same price index had decreased 20.8% from May 2022 to May 2023
Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated
Specifically, the option "Subjective opinions are prioritized over objective data" ranked highest in importance for young employees, with a score of 3.89 out of 4
OECD: Job Vacancies on the Rise in Greece
By the fourth quarter of 2023, job vacancies per unemployed person had risen by more than 4, with the index reaching 446 units compared to 100 units in late 2019
OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece
This initiative will provide ultra-fast internet speeds of up to 1Gbps to over 350,000 households and businesses in semi-urban and rural areas across the country