SNFASyndicat National de la Construction des Fenêtres, Façades et Activités Associées (French: National Union of the Construction of Windows, Facades, and Associated Activities)
SNFASovereign Net Foreign Assets (economics)
SNFASwedish National Food Administration
SNFASalmon Net Fishing Association (UK)
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- Policy mismanagement and/or a prolonged fall in oil prices leading to a decline in SNFA allied to reduced economic and financial stability
SNFA results from high oil-related budget and current account surpluses, at respectively 30pct and 35pct of GDP over the past decade, that have been prudently saved in Kuwait's sovereign wealth funds.
SNFA of an estimated 131 per cent of GDP at end-2011 are second only to Kuwait's ('AA'/Stable).
The Swedish rolling bearings and seals manufacturing group SKF said on Tuesday (4 July) that it has completed its previously announced acquisition of French aerospace bearings and machine tool applications maker SNFA SAS.
SNFA is a family-owned specialised manufacturer of high-precision anti-friction bearings for the aerospace and machine tool industries.
Current account deficits and the draw-down of non-resident deposits at the CBO will continue to put pressure on foreign exchange reserves, which are separate from SGRF assets but are included in SNFA. We estimate that the country's net external debt will rise to 38% of GDP in 2019 from a net creditor position of 35% of GDP in 2014, partly reflecting borrowing by state-owned enterprises (SOEs).
The Swedish seals and bearings supplier SKF Group said on Monday (3 April) that it has agreed to acquire French bearings manufacturer SNFA SAS for an undisclosed sum.
Sovereign net foreign assets (SNFA) will deteriorate to -4% of GDP by end-2019, from 16% of GDP at end-2017 and a peak of 58% of GDP at end-2015.
The European Commission decided on October 23 to further its inquiry into the taking of joint control of French bearings maker SNFA by its German competitor INA Holding Schaffler and the American insurance company American International Group (AIG).
The sovereign net foreign asset (SNFA) position will decline quite sharply to 78% of GDP in 2017 from 113% in 2014.
SNFA will continue to grow as a result over the rating horizon, enhancing its capacity to deal with economic shocks.
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