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SOFAZ purchases 10 tons of gold

18 September 2012 09:04 (UTC +04:00)

Baku. Ali Ahmadov â€“ APA-Economics. Within the framework of application of investment instruments, State Oil Fund of Azerbaijan has purchased 10 tons of gold, Executive Director of the Fund Shahmar Movsumov said, APA reports.

To him, at present, that gold is kept at London banks and preparations are carried out in direction of bringing it to the country: â€˜SOFAZ has applied to the Cabinet of Ministers in connection with exemption of gold from customs duties. The gold will be kept at special storehouses of the CBAâ€™.

Movsumov noted that preparation process of draft budget for 2013 approaches the end: â€˜The draft considers implementation of big oil-gas projects. The Fund spent $200 mln to purchase of foreign companiesâ€™ shares, so far. By the year-end, this sum will be reached up to $600 mln. In the coming days the Fund will buy property in some countriesâ€™.