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What is the objective of the funds?

Both funds have different and specific objectives. On one hand, the purpose of the PRF is to complement the financing of fiscal liabilities in the area of pensions and social welfare. Specifically, the fund backs the state guarantee for old-age and disability solidarity pension benefits, as well as solidarity pension contributions.

On the other hand, the ESSF was created to maintain a steady level of government revenue, funding fiscal deficits that may occur in periods of low growth and/or low copper price. This helps to reduce fluctuations in fiscal spending across the economic cycle.

 

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