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16.04.2013 18:48

SOFAZ assets equal half of GDP of Azerbaijan

Currently, the assets of the State Oil Fund of Azerbaijan (SOFAR) are equal to half of the country's GDP, the head of the State Oil Fund Shahmar Movsumov said during the World Economic Forum (Davos Forum) "The strategic dialogue on the future of the South Caucasus and Central Asia" held in Baku. The economic Strategy of the country's government is focused on the use of the fund's assets for the realization of infrastructure projects", Movsumov said. According to him, assets of the State Oil Fund are invested outside the country and are mostly aimed at infrastructure projects. Among the major projects, on which SOFAZ assets will be allocated this year Movsumov named the project of the development of broadband internet in Azerbaijan, which will create opportunities for the private sector.

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