Compass – The assets of the Social Security Investment Fund recorded an unprecedented growth of 1.5% for the year 2020 compared to the average annual growth of 12.8%.

In a post on his Facebook page, insurance and social protection expert Musa Al-Subaihi said that the growth rate of the fund’s assets is the lowest in 17 years.

The value of the growth amounted to 170 million dinars at the end of the year 2020, as the assets of the fund at the end of the year 2020 reached (11) billion (167) million dinars, compared to (10) billion and (997) million dinars at the end of 2019.

The Security Funds Investment Fund attributes this weak growth in its assets to two main reasons, the most important of which are the effects of the Corona pandemic, which led to a significant decrease in the market value of company stock prices, in addition to weak transfers of cash surpluses from the Warranty Institution due to spending on protection programs associated with the pandemic.

The insurance financial surplus that is transferred annually from the Guarantee Corporation to the General Investment Fund 2020 decreased by (94.4%) from what was transferred in 2019, as the transferred surplus to the Fund in 2020 amounted to about (29) million dinars, while the financial insurance surplus transferred to the Fund in 2019 amounted to about (517) million dinars.