The State Oil Fund of the Azerbaijani Republic (SOFAR) started investing in companies on September 1, Executive Director of SOFAR Shakhmar Movsumov said at the Oil, Gas and Media International Conference.
The MSCI indicator includes shares of 1600 authoritative international companies. $200 million have been invested in shares and the sum will reach $600 million by the end of the year.
Movsumov said that SOFAR bought 10 tons of gold. It requested the Azerbaijani Cabinet to lift customs fees for the organization to import the gold. The gold is giving profit in banks at the moment.
The budget for 2013 was planned with an oil price of $80 per barrel. The budget for 2012 set the price of $100 per barrel.
