SOFAZ slightly reduces its investments in Europe

As of July 1, 2023, the share of European countries in the investments of the State Oil Fund of Azerbaijan (SOFAR) amounted to 28.1%, and the share of countries in the Asia-Pacific region was 15.2%, Report informs citing the fund.

In the same period of 2022, these figures were 28.6% and 20.4%, respectively.

Among other regions, the share of North America increased from 30.1% to 37.1%, the share of the Middle East region decreased from 0.6% to 0.3%, the share of Australia and New Zealand remained unchanged at 0.6%, and the share of the South American region - remained at 0.1%.

Over the year, the share of developed countries in SOFAZ investments increased from 59.4% to 66.5%, the share of developing countries decreased from 21% to 15%, and the share of international financial organizations increased from 6.4% to 7.1%.