State Oil Fund's diverse investment portfolio enhances Azerbaijan’s image

Azernews.Az

28 December 2024 08:30 (UTC+04:00)

Qabil Ashirov

The State Oil Fund of Azerbaijan (SOFAZ) has reported a significant surge in its revenues. Speaking at the Annual General Meeting dedicated to SOFAZ’s 25th anniversary, the Executive Director of the Fund, Israfil Mammadov, highlighted that the revenues generated from the management of the Fund's assets have now surpassed $15 billion. To put this into perspective, Mammadov added that the current assets of SOFAZ have exceeded $60 billion, accounting for approximately 80% of Azerbaijan's economy.

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