Azerbaijani PM elected as SOFAZ Supervisory Board’s chairman

Trend:

In accordance with the decision of the Supervisory Board of the State Oil Fund of Azerbaijan (SOFAZ), Azerbaijani Prime Minister Novruz Mammadov has been elected as the Supervisory Board’s chairman, SOFAZ said in a message July 6.

The Supervisory Board discussed the Fund's annual report and audited financial statements for 2017, SOFAZ’s 2017 budget execution project and the amendments to SOFAZ’s 2018 budget.

The Supervisory Board approved SOFAZ's 2017 annual report and Auditor's (PricewaterhouseCoopers) Report as submitted by the executive director of the Fund.

While endorsing the Fund's 2017 budget execution project and the amendments to SOFAZ’s 2018 budget, the Supervisory Board recommended these documents for the approval of Azerbaijani President Ilham Aliyev.