Baku. Nijat Mustafayev – APA-Economics. Assets of State Oil Fund make $ 28.8 bln, up 26.3% compared to early 2011, 11.6% from beginning of second quarter, SOFAZ Executive Director Shahmar Movsumov told APA.
According to S. Movsumov, Fund’s income will be more by the end of 2011, than planned. At the same time, Fund’s transfers to state budget increased and this is related to increase of oil base price from $60 to 80$. Growth of transfers makes $2.7 bln and relevant amendments are made in Fund’s budget. These amendments will be submitted to Supervisory Board, thereafter, to head of state.
In general, S. Movsumov forecasts the assets of SOFAZ to increase to $30 bln by the end of 2011.
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