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Sovereign Wealth Funds Briefing - Categorized | Financials, Fund Management/Administration

Oil Fund’s administrative costs limited to AZN 86.3 mln

Posted on 08 January 2013

Estimated costs for managing the State Oil Fund of Azerbaijan (SOFAZ) have been approved by President Ilham Aliyev.
Under the relevant order, SOFAZ administrative costs are limited to AZN 86.3 million. Their basis will include purchase of non-financial assets for AZN 62.177 million, including buildings and structures for AZN 60 million. Bank expenditures will amount to AZN 6.238 million, labour payment AZN 3.887 million, capital repair of administrative and managerial assets AZN 2.4 million………………………………………..Full Article: Source


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