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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Management/Administration

Amendments planned in 2014 budget of Azerbaijan State Oil Fund

Posted on 13 March 2014

An appeal has been made to the Supervisory Board to make amendments in 2014 budget of Azerbaijan State Oil Fund, Executive Director of the State Oil Fund Shahmar Movsumov told journalists, APA-Economics reports.
He said the amendment envisages allocation of funds to form $51 million capital of the new company established to manage gas projects under the decree of Azerbaijani President. “These funds are not envisaged in the budget. But this is presented by the State Oil Fund as direct investment and is a long-term investment,” he said………………………………………..Full Article: Source


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