The State Oil Fund of the Azerbaijan Republic (SOFAZ) presented its budget of 2012 to Azerbaijani Prime Minister Artur Rasizade. The document gives details about the fund’s activities, audit of Ernst & Young, Trend reports.
Rasizade was re-elected as the SOFAZ head.
Assets of the fund totaled about 26.9 billion manats in 2012, exceeding the volume in 2011 by 3.4 billion manats. 26.01 billion manats were on-the-day assets, 876.63 million manats were long-term assets. The SOFAZ had an income of 13.72 billion manats and expenses of 10.75 billion manats in 2012.
