SOFAZ investment portfolio to make up AZN 61B next year

# 15:24
28 December 2017

Azerbaijan’s state oil fund SOFAZ revealed the programme of use of its funds and investment policy.


Directions of expenditures are as follows:


- Financing the improvement of social condition of refugees and IDPs;


- Upper bound of the transfer to 2018 State Budget of the Republic of Azerbaijan;


- Financing the reconstruction of the Samur-Absheron irrigation system;


- Financing "Baku-Tbilisi-Kars railway" project;


- Financing the "State Programme on the Education of Azerbaijani Youth abroad in the years 2007-2015".


As for investment policy for 2018, SOFAZ will pursue investment policy allowing it to get maximum profitability with the condition of low risk of capita lose.


According to the document, investment portfolio is estimated at AZN 60.67 billion.


Base currency of the investment portfolio is set up with US dollar. Total value of investment portfolio of SOFAZ can be placed:


- 50%- in assets in US dollar;


- 35%- in assets in Euro;


- 5%- in assets in pound sterling;


- 10%-in assets in other currencies.