Sofaz Plans Fivefold Growth in Assets by 2024, Respublika Says
This article is for subscribers only.
The State Oil Fund of Azerbaijan, also known as Sofaz, expects its assets will grow to $176 billion by 2024 from the current $32.4 billion, Respublika reported yesterday, citing Sofaz President Shahmar Movsumov.
Sofaz’s assets accounted for 75 percent of the country’s strategic monetary reserves of $43.2 billion as of March 31, Movsumov said, according to the state-run daily newspaper.