SOFAZ expects over 5% return on real estate portfolio next year

Revenues from the management of the resources of the State Oil Fund (SOFAZ) in 2022 are estimated to be $715.8 million or 1,216,800 manats, which is 761,800 manats or 38.5% less than the relevant indicator of 2020, 457,100 manats or 60.2% more than the forecast for 2021, 265.6 million manats or 17.9% lower than the expected performance for 2021, Report informs, citing Opinion of the Chamber of Accounts on the SOFAZ budget for next year.

The document also states that the average annual return for the next year is predicted to be 1.7% (return on debt obligations and money market instruments - 0.7%, return on share portfolio - 4.7%, return on real estate portfolio - 5.2%). This figure is 0.6% more than the forecast for this year (1.1%) and 1.4% less than the nine-month performance of the current year (3.1%).