SOFAZ increases investments in Europe 

Agshin Rafigoglu
Author

At the end of 2022, the share of European countries in the investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) amounted to 29.6%, Report informs, citing the Fund.

The share of Asia-Pacific countries stood at 16%, North America changed from 29.3% to 33.4%, Australia and New Zealand from 1 to 0.8%, the Middle East region from 0.7% to 0.4%, and the South American region remained unchanged at 0.1%.

Last year, the share of developed countries in SOFAZ investments rose from 60.6% to 63.9%, the percentage of developing countries fell from 20.3% to 16.4%, and the share of international financial institutions increased from 6% to 7.6%.

The share of gold in SOFAZ's investment portfolio dropped from 13.1% to 12.1%.

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