Oil Fund`s revenues from foreign exchange assets management to decrease - Accounting Chamber`s opinion


January 23, Fineko/abc.az. Revenues from the placement and management of foreign exchange assets of the State Oil Fund are expected to reduce this year.

ABC.AZ reports that the forecast is contained in the Accounting Chamber’s conclusion on SOFAZ’s draft budget 2020.

Thus, in 2020 revenues from SOFAZ management are forecasted to amount to $606.6 million or AZN 1.031 bn that is by AZN 850.2 million or 5.7-fold more against the 2018 indicator, by AZN 411.2 million or 29.5% less against the 2019 forecast indicator, and by AZN 1.519 bn or 59.6% less than the expected performance indicator. The average annual return for 2020 is projected to be 1.45% that is by 0.69 percentage points less than the forecast for 2019 (2.14%), and 2.44 percentage points less than for 9 months of the current year (3.89%).