SOFAZ to reduce share of US dollar in investment portfolio

In 2022, the share of the US dollar in SOFAZ's investment portfolio is expected at 65%, the euro at 20%, the British pound sterling at 5%, and other foreign currencies at 10%, reads the Conclusion of the Chamber of Account of Azerbaijan on the budget of the State Oil Fund of Azerbaijan (SOFAZ) for 2022, Report informs.

As of October 1 of this year, 69.1% of SOFAZ funds were in US dollars, 19.5% in euros, 4.9% in British pounds sterling, 6.5% in other foreign currencies.

In addition, the share of debt obligations and money market instruments in the SOFAZ's next year investment portfolio will be at least 50%, stocks - a maximum of 25%, real estate - a maximum of 10%, gold - a maximum of 15%. At the end of September this year, these indicators were 63.1%, 18.1%, 6% and 12.8%, respectively.