SOFAZ assets rise 22.5% in 2025 to $73.5 bln

Assets of the State Oil Fund of Azerbaijan (SOFAZ) rose by 22.5% in 2025 compared with the start of the year to reach $73.5 billion, the fund said in a statement.

According to the data, SOFAZ assets stood at $60.0 billion at the beginning of 2025 and increased to $73.54 billion by year-end. The growth was mainly driven by investment income, positive developments in financial markets, as well as changes in exchange rates and gold prices.

The fund’s total revenues in 2025 amounted to 37.6 billion manats, while expenditures stood at 14.6 billion manats. Revenues from the sale of hydrocarbons under oil and gas agreements reached 9.5 billion manats.

SOFAZ’s investment portfolio posted a return of 6.2%, generating investment income of 6.9 billion manats, or around $4 billion.

During the year, SOFAZ transferred 14.5 billion manats to the state budget. In addition, 105.5 million manats were allocated to finance state programmes related to higher education and overseas studies for young people, while administrative expenses totaled 40.7 million manats.

The fund said declining global interest rates supported the performance of its bond portfolio, while equity investments benefited from advances in technology and artificial intelligence. Real estate and infrastructure assets delivered overall positive returns, and the gold portfolio generated significant off-budget income amid gold prices reaching record highs.

N.Tebrizli