Revenues to Oil Fund Amounted to $ 131 Bn in 2001-2016

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The volume of revenues to the State Oil Fund of Azerbaijan (SOFAZ) in 2001-2016 amounted to $ 130.8 billion, the Fund’s annual report for 2016 says.

According to the report published on the Fund’s website, 74.7% of the funds received in the Fund in 2001-2016 were used, and the remaining 25.3% or $ 33.15 billion were used for accumulation.

According to SOFAZ, the bulk of the funds received to the Fund was directed to transfers to the state budget of Azerbaijan. The volume of transfers from SOFAZ to the state budget in 2003-2016 amounted to 71.5 billion manat, including 7.615 billion manat in 2016.

As of the end of 2016, SOFAZ’s assets were $ 33.147 billion and decreased by 1.3% in the reporting year.

According to the report, in 2016 the yield of SOFAZ’s investment portfolio was 1.92%. Over the past 10 years (2006-2016), the average return on the Fund’s portfolio was 2.19% per year.

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