SOFAZ 2022 loss exceeds $3B

Kanan Sadigov
Post's author

The State Oil Fund of Azerbaijan (SOFAZ) ended 2022 with 5,240.044 million manats ($3.08 billion), in net loss, while the Fund ended 2021 with 1,556.203 million manats ($0.92 billion) in net profit, Report informs.

As of January 1, the assets stood at 84,109.51 million manats ($49.48 billion), up 9.4% from a year earlier. The liabilities increased by 7.3% to 627.829 million manats ($369.31 million), and net worth surged 10.7% to 83,481.681 million manats ($49.11 billion).

Latest news

European culinary festival 'Taste of Europe' opens in Baku 6 October, 2024 / 17:55
Anxious Europeans hoard savings as US consumers boost global economy 6 October, 2024 / 17:49
China ready to strengthen strategic coordination with North Korea — Xi Jinping 6 October, 2024 / 17:37
UN Sec.-Gen. calls for end to suffering in Middle East on October 7 attack anniversary 6 October, 2024 / 17:30
Iran has prepared response to any Israeli attack: media 6 October, 2024 / 17:10
Tropical storm Milton forms in Gulf of Mexico, may intensify to hurricane threatening Florida 6 October, 2024 / 16:55
Baku urges Yerevan to choose between normalization and ‘confrontation in all directions’ 6 October, 2024 / 16:37
Germany to supply Türkiye with weapons worth hundreds of millions of euros 6 October, 2024 / 16:21
Gaza death toll exceeds 41,800 6 October, 2024 / 16:01
Ukrainian ambassador grateful to Azerbaijani partners for continuous support 6 October, 2024 / 15:32
Azerbaijani Defense Ministry presents weekly summary of events 6 October, 2024 / 15:01
COP29 can act as defender of colonies experiencing environmental disaster 6 October, 2024 / 14:29
Tokayev believes Kazakhstan's nuclear power plant should be built by int'l consortium 6 October, 2024 / 13:57
7 of family dead as fire breaks out in India's Mumbai 6 October, 2024 / 13:25
Azerbaijan weather forecast for October 7 6 October, 2024 / 12:48