SOFAZ’s assets may exceed $50 bn

In case if expenses of SOFAZ is maintained at the current level, in the coming 5 years the Fund’s assets may exceed $50 bn depending mainly on oil price, executive director of SOFAZ Shahmar Movsumov said in his interview to New Azerbaijan Party’s website.

To him, within 6 months of 2011, incomes made AZN 7,925.3 mln or $10,002.8 mln. 96% or AZN 7,611.2 mln of incomes came from the sale of hydrocarbon resources.

As a result of high price of crude oil at world oil markets, assets of SOFAZ made $30.4 bn as of July 1, 2011, by rising $7.6 bn within 6 months.


/APA/