By the end of 2022, the net loss of the State Oil Fund of Azerbaijan (SOFAR) amounted to 5 billion 366.047 million manats against a net profit in 2021 of 1 billion 234.083 million manats, SOFAR’s financial statements for 2022, confirmed by the international auditing company PWC. According to the report, the operating loss of the State Oil Fund in 2022 amounted to 4 billion 945.055 million manats against the operating profit of 1 billion 493.819 million manats a year earlier. The Fund’s losses from the exchange rate difference in 2022 amounted to 1 billion 455.933 million manats (a decline of 3.2%). SOFAR’s assets in 2022 in manat equivalent increased by 9.4% to 84 billion 109.51 million manats; including current assets of the fund increased by 10.4% to 81 billion 621.56 million manats, long-term assets decreased by 17.3% to 2 billion 487.95 million manats. The obligations of the State Oil Fund increased by 7.3% to 627.829 million manats

Source: Turan News Agency