TODAY.AZ / Politics

Ilham Aliyev approves main directions for using SOFAZ funds in 2019

28 December 2018 [20:40] - TODAY.AZ

By  Trend

Azerbaijani President Ilham Aliyev has signed a decree approving the main directions for using the funds and investment policy of the State Oil Fund (SOFAZ) for 2019.

According to the decree, the forecast aggregate value (weighted average volume) of investment portfolio of SOFAZ for 2019 is set at 67.4 billion manats.

In 2019, SOFAZ funds will be mainly used for financing some measures related to accommodation and improvement of social and living conditions of refugees and IDPs, and transfers to the state budget of 2019.

Under the decree, the currency structure of SOFAZ’s investment portfolio is as follows: up to 50 percent in US dollars, 35 percent in euros, 5 percent in British pounds, and 10 percent in other currencies.

Meanwhile, SOFAZ’s investment portfolio can consist of four sub-portfolios: a portfolio of debt instruments and money market instruments - 55 percent of total portfolio value, a portfolio of shares - 25 percent, a portfolio of real estate - 10 percent, and a portfolio of gold - 10 percent.


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