BAKU, Azerbaijan, Oct. 27
By Fidan Babayeva – Trend:
The State Oil Fund of Azerbaijan (SOFAZ) has published a report on the distribution of its investment portfolio for September 30 according to the level of countries’ economic development, Trend reports citing SOFAZ’s report.
SOFAZ said that in developed countries the given indicator is 61.55 percent, in developing countries - 32.15 percent, and in international financial organizations - 6.3 percent.
“The classification of the fund's investment portfolio by geographic region (by international financial institutions) includes 6 regions of the world. These include North America (26.62 percent), South America (0.04 percent), Europe (29.37 percent), the Middle East (1.05 percent), Australia / New Zealand (1.09 percent), and Asia / Pacific Ocean (35.53 percent),” the fund’s report noted.
As of late September 2020, the fund's assets declined by 0.08 percent compared to the beginning of 2020 and amounted to $43.3 billion. The reason for the decline in assets was the excess of SOFAZ’s budgetary revenues from budgetary expenditures amid the recession in the world economy following the consequences of the coronavirus (COVID-19) pandemic caused by the fall in oil prices.
(1 USD = 1.7 manat on Oct. 27)
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