SOFAR deposits in Central Bank of Türkiye increased

17:25 - 18.07.2024

July 18, Fineko/abc.az. As of January 1, 2024, the term deposit investments of the State Oil Fund of Azerbaijan (SOFAZ) amounted to 1.9 billion manats.

ABC.AZ informs with reference to SOFAZ audit report that the figure is 4.5% more than on January 1, 2023.

Term deposits accounted for 2.04% of SOFAZ's short-term assets.

According to the report, at the end of 2023, the main part of term deposits consisted of deposits placed with the Central Bank of Türkiye in the amount of 1.89 million manats (4.4% more than at the end of 2022). Interest was accrued on this deposit in the amount of 16,543 manats – a rise of 7.14-fold.