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SOFAZâ€™s assets may exceed $50 bn

SOFAZâ€™s assets may exceed $50 bn

13 July 2011 12:41 (UTC +04:00)

Baku - APA-Economics. In case if expenses of SOFAZ is maintained at the current level, in the coming 5 years the Fundâ€™s assets may exceed $50 bn depending mainly on oil price, executive director of SOFAZ Shahmar Movsumov said in his interview to New Azerbaijan Partyâ€™s website.

To him, within 6 months of 2011, incomes made AZN 7,925.3 mln or $10,002.8 mln. 96% or AZN 7,611.2 mln of incomes came from the sale of hydrocarbon resources.

As a result of high price of crude oil at world oil markets, assets of SOFAZ made $30.4 bn as of July 1, 2011, by rising $7.6 bn within 6 months.

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