Azerbaijan Oil Fund’s draft budget 2018 to be submitted to country’s president

12:47 - 26.12.2017

December 26, Fineko/ The Supervisory Board of the State Oil Fund of Azerbaijan (SOFAZ) has discussed the Fund’s draft budget for 2018.

SOFAZ reports that following discussions a decision was made to submit Fund’s budget 2018 to the country’s leader.

Also, during the meeting it was decided to amend the plan of reporting and accounting policy in connection with the transition of SOFAZ International Financial Reporting Standards (IFRS) to a new standard #9 “Financial Instruments”.