13:39 - 2.08.2019

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August 2, Fineko/abc.az. The State Oil Fund of Azerbaijan (SOFAZ) has published the data about income and expenditures for Jan-Jun 2019.

According to SOFAZ’s report, AZN 4.413 bn were transferred to the State Budget within the framework of SOFAZ budget execution for 2019 for the reporting period. Expenditures on the improving the social-economic condition of refugees and IDPs amounted to AZN 74.9 million and administrative and operational expenses on the management of Fund’s assets AZN 11.5 million.

As of 30 June 2019 Fund’s assets amounted to $42.46 bn (rise of 10.25% or $38.515 bn against early 2019).

The increase was mainly due to SOFAZ inflows from the sale of profitable oil and gas, as well as, from the investment returns. During the current period each asset class positively contributed to the overall investment portfolio return, while the equity investments returns were significantly higher compared to other assets classes. Thus, despite the negative return (-6.6%) on the equity sub-portfolio for the last year, the return number for the first six month of the current year amounted to 13.1%.