SOFAZ increases investments in Europe 

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%.