Oil Fund to transfer $12.5bn to state budget next year

Oil Fund to transfer $12.5bn to state budget next year The State Oil Fund expects to transfer AZN 9.9bn ($12.5bn) to the state budget next year, the fund’s executive director has said. This is $500m more than the fund will contribute to the state budget this year, according to figures given by Shahmar Movsumov in late August. Under a new investment policy to be submitted to the fund’s supervisory board, SOFAZ will broaden its investments into stocks, real estate and... Read More