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SOFAZ to retain share of USD in its investment portfolio
- 28 November, 2022
- 13:02
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The share of the US dollar in the investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) is expected to be 65%, the share of the euro will be 20%, and the share of the British pound will be 5%, while the share of other foreign currencies will be 10% in 2023, Report informs, citing the opinion of the Accounting Chamber on the Fund's 2023 budget.
That's the same as the 2022 forecast, according to the Chamber.
As of October 1, 2022, 70.8% of SOFAZ funds were in dollars, 19% in euros, 4.7% in British pounds, and 5.5% in other foreign currencies.
Besides, the Chamber states that the share of debt obligations and money market instruments in SOFAZ's investment portfolio next year will be at least 50%, percentage of the shares will be maximum 25%, real estate at a maximum of 10%, and gold at a maximum of 15%. By the end of September 2022, the indicated ratios were 62.9%, 18.7%, 6.4% and 12%, respectively.
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