Forecast: SOFAZ assets wil exceed $ 10 bln during 10 years

State Oil Fund’s assets will exceed $100 bln during 10 years, said the World Bank’s experts.

“It’s unknown how long the oil revenues of Azerbaijan will last. But, the revenues will decrease gradually. At present, the assets make over v$30 bln. This number is expected to exceed $ 100 bln after 10 years“.

Note that, according to SOFAZ forecasts, the fund’s assets will make $50 bln depending on oil prices, during the next 5 years, exceed $100 bln after 15 years. Total receipts of fund made $ 50 bln during past 11 years. Interest income fro this sum made $ 1 bln. At the same time, $20 bln was allocated to infrastructure projects.

Remind that, SOFAZ income made AZN 7,925.3 mln or $ 10,002.8 mln in H1 of 2011. 96% or AZN 7,611.2 mln of income came from the sale of hydrocarbon reserves. As the result of remaining oil prices at high prices, the assets rose $7.6 bln to $ 30.4 bln during 6 months.

Note that, 50% of funds is in USD, 40% in EUR, 5% in pound-sterling and in other currencies.


/APA/