BAKU, Azerbaijan, July 23. As many as 7.24 billion manat ($4.28 billion), or 36.6 percent, of the Azerbaijani state budget revenues accounted for transfers from the State Oil Fund of Azerbaijan (SOFAZ) in the first half of this year.
The data obtained by Trend from the country's Ministry of Finance shows that this figure rose by 850 million manat ($502 million), or 13.3 percent, compared to the same period last year.
In the first half of 2024, 6.39 billion manat ($3.77 billion), or 33.9 percent, of the state budget revenues accounted for transfers from the SOFAZ.
Azerbaijani state budget revenues reached 19.8 billion manat ($11.69 billion) in the first six months of this year, exceeding the forecast of 19 billion manat ($11.29 billion) by 704.8 million manat ($416 million), and were 961.1 million manat ($567 million) higher compared to the same period of 2024. This corresponds to 51.6 percent of the annual state budget revenues for this year.
The state budget expenditures for the first half of this year amounted to 17.09 billion manat ($10.1 billion), equal to 41.3 percent of the annual state budget expenditures. This is an increase of 1.04 billion manat ($617 million) or 6.5 percent compared to the same period last year.
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