National conversation fund: Comparative example with the world and Turkey

The first examples of the National Asset Funds, which are now used by governments as a means to achieve macroeconomic objectives, emerged in the 1950s, when economic statism policies became widespread. In the 1950s, the Gulf countries transformed the excess income obtained from oil into investment through the asset fund they established, thus giving the first example in their field. Then Asian countries started to establish their own asset funds and today, nearly 80 countries established National Asset Fund. The volume of the National Asset Funds, in which the states act as direct investor organizations, is growing day by day; Today, the 15 largest national asset funds have approximately $ 11 trillion in resources. In Turkey in 2016, sustainable development, stability and long-term investments in the real sector by financing perspective in achieving the 2023 targets of the National Welfare Fund was established; many state-owned and profit-making organizations were transferred to the Fund. The most important difference between the National Asset Funds established in the Gulf, Asia and Scandinavian countries and the Fund established in our country; other countries have a very serious current surplus and the income of the fund consists of this current surplus. Turkey, depending on the height of the import dependency ratio gives the current account deficit. It is argued that the Asset Fund in our country will face important problems in the future due to the current account deficit. In addition, it is expected that this fund will gradually become a global fund that becomes corporatized by making international investments and will cause various diplomatic troubles.