Liabilities of SOFAZ down 41%

As of January 1, the total liabilities of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) amounted to AZN 642.334 million (41% less than 2019).

At the end of last year, the Oil Fund's long-term liabilities decreased by 42.1% compared to the same period the previous year to AZN 619.679 million, including debt of subsidiaries declined by 44.5% to AZN 515.327 million, guarantee deposits by four times to AZN 12.248 million, guarantee deposits by 24.2% to AZN 12.050 million, lease liabilities 2.9% to AZN 80.054 million, and short-term liabilities increased by 27.5% to AZN 22.655 million.