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SOFAZ: Crude oil price’s being higher than base price creates condition for increase of assets

SOFAZ: Crude oil price’s being higher than base price creates condition for increase of assets
Base price of crude oil in the budget of the State Oil Fund of Azerbaijan (SOFAZ) is $55 as is in the state budget. Crude oil price’s being higher than base price creates condition for increase of assets, SOFAZ told Report. ‘As of October 1, 2018 SOFAZ’s assets stood at $38,987,700,000. It will depend on oil price and volatility in the financial markets how this figure will be at the end of the year’, the Fund said. Upon the decree of the President, SOFAZ’s budget revenues make up AZN 15.3 billion, expenditures – AZN 11.48 billion. 

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