Trust recovers large losses

Late in February, Kosovo Pension Savings Fund officials have confirmed that as a consequence of this crisis on international financial markets, the Trust has suffered a decline of nearly 100m euros.

A total of 90m euros was the amount the Trust announced has lost from investments in foreign markets, only in the first 7 days of the start of the war between Russia and Ukraine. Then he got up again and a slower fall.

However, according to the latest data from foreign markets, there has been a positive improvement in returns from investments.

Exactly 2,402,314,108 is the amount the Trust has reported in management from August 22, 2022, according to its published graph, Periscope reports.

On February 25th, the vehicles under management were 2, 286, 571, 013 euros, a time in which it was reportedly 90 million losses. So based on the data on that date, there's now plus 116m euros in the fund.

The Trust had closed 2021 with a total of 2,353,174,911 euros under management.

We remember that Democratic Party of Kosovo deputies had sent the initiative to change the Trust Law that would enable citizens to attract 30 percent of their savings so they can cope with inflation. But, on June 23rd, the Bill for withdrawing tools from the Trust had not passed into the Assembly with 57 votes against ruling MPs. Now, about a month ago, a petition for the Trust was handed over to the Assembly.

Over 21 thousand citizen signatures were collected in various cities by the organizers of this petition.

But despite that, the will of citizens has still been prosecuted in the Assembly.

The Pension Savings Fund has over 700 thousand contributions. About 80 percent of the tools are invested in international financial markets and about 22 percent in Kosovo./ P ERISCOPI/