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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

SOFAZ planning to increase its assets in 2017

Posted on 13 October 2016

The State Oil Fund of Azerbaijan (SOFAZ) is planning to increase its assets by $1 billion in 2017, SOFAZ CEO Shahmar Movsumov said Oct. 12 at a press conference in Baku. Movsumov noted that SOFAZ’s assets are forecast at the level of $34 billion in 2016.
“A balanced budget, where oil prices are considered at $40 per barrel, will be effective in 2017,” he added. As of Oct. 1, 2016, SOFAZ’s assets increased by 6.7 percent and amounted to $35.82 billion as compared to $33.57 billion in early 2016………………………………….Full Article: Source


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