Deputy CEO: SOFAZ's investment revenues surpassed $15B over past decade

Over the past 10 years, the State Oil Fund of Azerbaijan (SOFAZ) has generated more than $15 billion in investment revenues, according to Bahruz Bahramov, Deputy CEO of the State Oil Fund of Azerbaijan (SOFAZ), Report informs.

He shared this insight at a scientific-practical conference organized by the Azerbaijani Milli Majlis's (Parliament) Committee for Economic Policy, Industries and Enterprising.

Bahramov mentioned that SOFAZ's assets have exceeded $70 billion: "Today, the fund's resources amount to 90% of GDP and are 13 times greater than the national debt."

The deputy CEO highlighted that SOFAZ, which began operations with $270 million at its inception, now plays a vital role in ensuring the country's fiscal and macroeconomic stability: "The fund serves as a reliable buffer against external shocks, both in terms of savings and the rational allocation of resources."