SOFAZ 2022 loss exceeds $3B

The State Oil Fund of Azerbaijan (SOFAZ) ended 2022 with 5,240.044 million manats ($3.08 billion), in net loss, while the Fund ended 2021 with 1,556.203 million manats ($0.92 billion) in net profit, Report informs.

As of January 1, the assets stood at 84,109.51 million manats ($49.48 billion), up 9.4% from a year earlier. The liabilities increased by 7.3% to 627.829 million manats ($369.31 million), and net worth surged 10.7% to 83,481.681 million manats ($49.11 billion).