SOFAZ assets increased by 1.5%


October 22, Fineko/abc.az. Over Jan-Sept 2021 the transfer to the State Budget within the framework of the implementation of the budget for 2021 amounted to AZN 7.309 bn.

ABC.AZ informs with reference to the Fund's report that AZN 3.4 million were allocated for the "State Program to improve the international competitiveness of the higher education system for 2019-23", and the costs associated with the management of SOFAZ amounted to AZN 15.1 million.

SOFAZ's extra-budgetary expenses due to the difference in exchange rate changes amounted to AZN 1.99 bn.

As of 30 September 2021 SOFAZ's assets increased by 1.5% compared with the beginning of 2021 ($43.56 bn) and amounted to $44.226 bn.

The growth of assets was achieved due to SOFAZ budget revenues, including as a result of funds management. The highest profitability for the corresponding period was observed in the stock portfolio, while positive profitability was recorded for each type of asset in the investment portfolio.