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 obligations derived from the Universal Guaranteed Pension, the basic solidarity disability pension and the solidarity disability pension contribution.
On the other hand, the Economic and Social Stability Fund (ESSF) should supplement the tax revenues needed to finance authorized public spending in the event of fiscal deficits. The most important withdrawals are expected to be when “macro” tail risks occur that produce significant and infrequent fiscal deficits.