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IMF: Assets of SOFAZ to reach $44 B in 2024

20 September 2019 18:38 (UTC +04:00)

International Monetary Fund (IMF) forecasts assets increase of State Oil Fund of Azerbaijan Republic (SOFAZ) to reach $43,942 billion in 2024, APA-Economics reports citing the report published by the IMF.

According to the information assets of SOFAZ will be amounted to $40,986 by the end of 2019, $42,421 billion in 2020, $43,361 billion in 2021, $43,746 billion in 2022, $43,883 billion in 2023.

Assets of SOFAZ is calculated in the case of the average oil price to reach $63,5 in 2019, $59,9 in 2020, $58 in 2021, $57,2 in 2022, $57,2 in 2023, $57,6 in 2024.

Note that assets of the Oil Fund were $38,515 billion at the end of 2018, and according to the forecast of IMF this indicator will grow by 14% in 2025.