State Oil Fund of Azerbaijan Sells Currency Totaling about $ 3.3 Billion for Eight Months
Baku / 07.09.16 / Turn: During August of this year, the State Oil Fund of Azerbaijan (SOFAZ) sold foreign currency in the amount of $ 394.5 million at auctions organized by the Central Bank (CBA).
Note that in July total sales of foreign currency at auctions by the Oil Fund amounted to $ 450 million.
In general, in January-August, SOFAZ sold foreign currency totaling $ 3 billion 281.4 million.
The proceeds of SOFAZ are mainly aimed at covering its obligations to the state budget, which this year will amount to 7.615 billion manats. However, in the H1 of 2016 SOFAZ for these needs transferred just 1.76 billion manats to the state budget. -12B-
Economics
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Azerbaijan officially presented the updated MyGov digital government platform today in the capital city of Baku, marking a significant milestone in the nation’s ongoing digital transformation.
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