From 2001 to 2013 the State Oil Fund of Azerbaijan (SOFAZ) received over $101 billion, reads the SOFAZ report for fiscal year 2013.
During the past 13 years about two thirds (64% or $64.23 billion) of SOFAZ’s inpayments have been invested. The remaining 36% ($35.88 billion) has been accumulated in the Fund.
During 2013 the volume of inpayments of the Fund totaled $17.33 billion against $17.41 billion in 2012. “The cause of reduction is growth of SOFAZ expenses,” reads the report. Last year 9.5% of inpayments were accumulated.
SOFAZ was established in December 1999, but it started it work in June 2001 and by that time its assets totaled $271 million.
