BAKU, Azerbaijan, March 15. The State Oil Fund of Azerbaijan (SOFAZ) transferred 12.8 billion manat ($7.55 billion) to the state budget last year, Trend reports via the activity report of the country's Cabinet of Ministers for 2024.
The report said that the transfer to the state budget was fully in line with the budget forecast. The expenses in this category accounted for 99.1 percent of the fund’s total budget expenditures.
Additionally, the expenditures related to transfer payments to the state budget last year increased by approximately 8.9 percent compared to previous years.
During the mentioned reporting year, the fund’s budget expenditures amounted to 12.9 billion manat ($7.61 billion), which was 8.7 million manat ($5.13 million) or 0.1 percent less than the budget forecast.
The volume of transfers to the state budget by SOFAZ over the last 10 years is shown as following:
|
Year |
Amount |
|
2015 |
8.13 million manat ($4.78 million) |
|
2016 |
7.6 million manat ($4.47 million) |
|
2017 |
6.1 million manat ($3.59 million) |
|
2018 |
10.9 million manat ($6.4 million) |
|
2019 |
11.36 million manat ($6.68 million) |
|
2020 |
12.2 million manat ($7 million) |
|
2021 |
11.3 million manat ($6.6 million) |
|
2022 |
7.9 million manat ($4.6 million) |
|
2023 |
11.7 million manat ($6.88 million) |
|
2024 |
12.78 million manat ($7.5 million) |
