Assets of the State Oil Fund reach the mark of $1,25 billions

By October 1 assets of the State Oil Fund of Azerbaijan (SOFAZ) reached $1,25 billions manats. However, executive director of the SOFAZ Samir Sharifov announced that by the end of the year fund will spent money in order to cover expenses.

 "The expenses will be generated by transfers to the national budget, covering of settlement construction for refugees and IDPs providing them necessary living conditions, covering of Azerbaijan’s stake in the Baku-Tbilisi-Ceyhan main export oil pipeline. Consideration these expenditures the SOFAZ will complete year 2005 with not less than $1,2 billions.