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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Azerbaijani State Oil Fund’s assets reach $33 bln

Posted on 20 September 2012

At present, the amount of assets of the State Oil Fund of Azerbaijan (SOFAZ) is $ 33 billion, SOFAZ executive director Shahmar Movsumov said. “SOFAZ assets hit $ 271 million when it was established in 1999,” he said. “But the current amount of assets testifies to the tremendous growth.”
He said that the establishment of SOFAZ has three main objectives, including maintaining economic stability, by accumulating the funds obtained from hydrocarbons and their gradual infusion into the economy to avoid the effect of the shock………………………………………..Full Article: Source

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