| State Oil Fund of Azerbaijan’s assets grew 31 percent last year to $29.8 billion, the fund known as Sofaz said. Sofaz, which was established in 1999 to manage state income from oil and natural gas, had revenue of 15.6 billion manat ($19.8 billion) in 2011, of which 9.6 billion manat was transferred to the state budget.
The fund spent $179 million building houses for refugees from the war with neighboring Armenia over the Nagorno-Karabakh region and $256 million on reconstruction of the Samur-Absheron irrigation system, it said...............................................Full Article: Source
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