SOFAZ assets forecasted to reach $51B at end of 2022

Baku. 28 November. REPORT.AZ/ Assets of the State Oil Fund of Azerbaijan (SOFAZ) are forecasted to reach $50.8 billion by the end of 2022, Nargiz Nasrullayeva-Muduroglu, Advisor to SOFAZ CEO, said in her interview to Azeri Observer magazine, Report informs.

"Our medium- and long-term projections for the SOFAZ revenues are based on a reasonable estimation of the oil price at 60 USD per barrel. According to our current forecasts, by the end of 2022, SOFAZ’s assets will reach the level of 50.8 billion USD," she said.

As of October 1, 2018 SOFAZ assets stood at $38,987,700,000, up 8.88 % from $35,806,500,000 in early 2018.