Assets of State Oil Fund (SOFAZ) will increase up to USD 82,076 billion by 2028. Taking into consideration that SOFAZ's assets made up USD 45.025 bln on finals of 2021, it means an increase of assets by 82.3% in 2022-2027, APA-Economics reports citing International Monetary Fund (IMF) report on results of consultations with Azerbaijani government from May 25 to June 7 on the Article 4.
According to IMF forecasts, assets of State Oil Fund will reach USD 53,426 bln (an increase of 18.7% in comparison with 2021) on finals of 2021, while USD 62.168 bln. on finals of 2023, USD 70.742 bln. on finals of 2024.
SOFAZ's assets will be USD 76.58 bln. on 2025, USD 79.84 bln. on 2026, USD 82.076 on 2027.
"Azerbaijan’s economy benefits from the higher energy prices resulting from the war in Ukraine. The increase in energy prices and the potential increase in gas exports to Europe are projected to boost exports and fiscal revenues over the medium term, with SOFAZ assets projected to approach 100 percent of GDP in 2025," noted in the statement.
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