SOFAZ increases investments in European countries

As of July 1, 2024, the share of European countries in the investments of Azerbaijan's State Oil Fund (SOFAZ) increased by 3.4% compared to the beginning of the year and amounted to $58 billion, while the Asia-Pacific countries accounted for 12.8%, Report informs, citing SOFAZ.

These figures were 28.1% and 15.2% in late September 2023, respectively.

Among other regions, the share of North America decreased from 37.1% to 33.1%, while the share of Australia and New Zealand increased from 0.6% to 0.7%.

During this period, the share of the Middle East region decreased from 0.3% to 0.1%, while the share of the South American region remained unchanged at 0.1%.

The share of developed countries in SOFAZ investments decreased from 66.5% to 65.3%.

The share of developing countries decreased from 15% to 12.3%, and the share of international financial organizations increased from 7.1% to 7.6%.