In June 2015 the State Oil Fund of Azerbaijan (SOFAZ) plans to invest $500 million into the bonds in Chinese Yuan.
SOFAZ Executive Director Shakhmar Movsumov said that the agreement has been signed with the Chinese Central Bank.
“We already have agreement with the Chinese Central Bank and recently our Securities Committee have signed the document, which will allows us starting investments,” he said in his exclusive interview to Trend news agency.
Last week the Azerbaijan State Securities Committee and the chairman of the Chinese Commission for Regulation of Securities Market signed the memorandum envisaging protection of investors and encouraging integrity of the securities markets, futures and other investment instruments by expanding the frameworks of cooperation and strengthening exchange of regulating and technical information.
By early this year 34% assets of the Oil Fund were in Euro, 1.2% in Russian rubles, Turkish Lira and Korean won. Another 0.5% fell to Australian currency and the remaining part was in the US dollars.-0-
Economics
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Kazakh Energy Minister Almasadam Satkaliyev said on Monday that Kazakhstan and Azerbaijan continue to discuss prospects for transporting Kazakh oil through the Baku-Supsa oil pipeline, which has been idle since spring 2022, Kazakh media reported.
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The supply of Azerbaijani gas to North Macedonia will transition to a regular basis in the mid-term, an informed source told Turan.
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In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
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Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
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