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23.01.2015 10:04

Azerbaijan State Oil Funds investments to hit nearly $ 36B in 2015

The projected total cost (an average volume) of the investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) for 2015 was set at 28.2 billion AZN.

The Azerbaijani president has recently issued a decree approving the main directions of the program of using SOFAZ funds for 2015.

The forecast for 2014 was formed at the level of 27 billion AZN, in 2013 - 25.2 billion AZN, in 2012 - 23 billion AZN.

"In 2015, SOFAZ will implement the investment policy, which allows obtaining the maximum yield at low risk of loss of the fixed capital," the document says.

The main areas of expenditure of SOFAZ funds in 2015 will be:

- Financing of certain measures relating to the accommodation and improvement of the social living conditions of refugees and internally displaced persons;

- Transfers to the state budget-2015;

- Financing of the Samur-Absheron irrigation system reconstruction project;

- Financing of the Baku-Tbilisi-Kars railway line construction project;

- Financing of the State Program on Education of Azerbaijani youth in foreign countries in 2007-2015;

- Financing of Azerbaijan's share in the "Southern Gas Corridor" projects

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