BAKU, Azerbaijan, April 17. The Azerbaijan Republic State Oil Fund (SOFAZ) accumulated 165.3 tons of gold reserves in the first quarter of 2025.
Data obtained by Trend from SOFAZ shows that this figure grew by 60.7 tons (58 percent) compared to the same period last year.
At the end of March 2024, the fund's gold reserves amounted to 104.6 tons.
By the end of the reporting period, the fund's total investment portfolio stood at $62.45 billion. Of this, $16.13 billion (25.8 percent) of the USD-denominated portfolio was invested in gold.
SOFAZ's mandate encompasses the aggregation of fiscal inflows derived from finite natural assets to transform these into a sustainable revenue stream for both current and prospective cohorts of Azerbaijan's populace. The primary objective in the establishment of SOFAZ was to facilitate the strategic and optimized governance of the nation's hydrocarbon assets.
The fund's activities are aimed at maintaining macroeconomic stability in the country, ensuring financial and tax discipline, reducing dependence on oil revenues, promoting the development of the non-oil sector, financing major national projects for the country's socio-economic development, and, considering that oil and gas are non-renewable natural resources, ensuring that the revenue generated from them is shared equally among generations while accumulating reserve funds for future generations.
