Record profits from exchange reserve

Record for recent years, profitability of the management of international monetary reserves of the country has implemented Bank in 2008, it is clear from the audit of the Court. The actual profit was EUR 693 million, of which 401 million were transferred in the Treasury even at the end of April. This is a far better achievement than in previous years. In 2007, for example, management of the reserves of the Bank came out with 450 plus million, as 250 million of them went into the treasury.

Great contribution, which subordinates Ivan Iskrov gave to the treasury at the end of April, was actually among the reasons the Cabinet „Stanishev“ to take account of a decent budget surplus at the end of his mandate. The yield of management of the reserves in 2008 was 4.67 percent, says the report of the Court. In comparison, in 2007 Bank realizes 3.63 percent, and in 2006 – only 1.68 percent. International foreign exchange reserves at market value at the end of 2008 were EUR 12.7 billion, an increase over the previous year with nearly 800 million. Because of the crisis are currently suspended investment in securities of certain countries with high credit risk.

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Finance