SOFAZ Reserves in 2015 Reduced by $ 3.6 Billion

The State Oil Fund issued a report on the financial performance for 2015, according to which the reserves of the Fund for the year decreased by $ 3.6 billion and accounted for $ 33.5 billion at the beginning of 2016.

For 2015 the budget revenues of the Oil Fund amounted to $ 7.3 billion, which is $ 8.8 billion less than in 2014. Budget expenditures of the Fund in the past year totaled $ 8.7 billion (2014 - $ 12.8 billion).

Since the establishment of SOFAZ (2000), its budget has never been in short supply. The Fund completed 2015 with a deficit of $ 1.4 billion.

Reducing SOFAZ currency reserves is associated with the loss of value of currency and so on assets (real estate and gold). ----08D

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