The State Oil Fund of the Republic of Azerbaijan (SOFAZ) is a sovereign wealth fund established in 1999 to manage the nation's vast oil and gas revenues, aiming to safeguard wealth for future generations, ensure macroeconomic stability by reducing oil dependence, and finance major national development projects. It operates as an extra-budgetary entity, investing revenues globally in diversified assets like stocks, bonds, real estate, and gold, while also supporting Azerbaijan's non-oil economy.
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