BAKU, Azerbaijan, Sept.1
By Zeyni Jafarov - Trend:
The assets of the State Oil Fund of Azerbaijan (SOFAZ) in manat equivalent increased by 0.1 percent during 2020, Trend reports on Sept. 1 with reference to SOFAZ auditor's report for 2020.
The assets of SOFAZ reached 74.4 billion manat ($43.8 billion), while 71.4 billion manat ($42 billion) of which are short-term assets and 2.9 billion manat ($1.7 billion) - long-term assets.
In accordance with the audit report, SOFAZ's liabilities for the past year decreased by 41 percent up to 642.3 million manat ($377.8 million).
Some 619.7 million manat ($364.5 million) of that volume or 96.5 percent of total liabilities accounted for long-term liabilities while 22.6 million manat ($13.3 million) or 3.5 percent - short-term liabilities.
The capital of SOFAZ increased by 0.7 percent and amounted to 73.8 billion manat ($43.4 billion) in 2020. Some 40.3 billion manat ($23.7 billion) of that amount accounted for retained earnings, 32.5 billion manat ($19.1 billion) - for capital investments and 976.8 million manat ($574.6 million) - for the reserve for converting foreign currency.
In general, SOFAZ ended last year with the net profit of 5.4 billion manat ($3.2 billion), increasing by 24.2 percent in annual terms.
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