Baku. Nijat Mustafayev – APA-Economics. Assets of State Oil Fund of Azerbaijan Republic are expected to remain unchanged by the end of 2011, said the Executive Director Shahmar Movsumov: “Certain incomes are expected by the end of this year. But if take the transfers to state budget into consideration, Fund’s assets will remained unchanged by end of 2011â€.
He also noted that, according to made amendments in current rules on management of Fund’s assets, SOFAR will be able to invest in gold purchasing: “At present, discussions are held on this issueâ€.
SOFAR head also said that, new foreign manager would be invited for management of Fund’s assets. SOFAR budget transfer for 2011 is forecasted to be AZN 9.9 bln.
Note that, as at early 4th quarter, SOFCAR total assets made $32 bln.
SOFAR can invest in purchase of produced gold in the country
02 November 2011 08:52 (UTC +04:00)
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