BAKU, Azerbaijan, Dec.22
By Fidan Babayeva – Trend:
Revenues of the State Oil Fund of Azerbaijan (SOFAZ) will grow by 168.4 million manat ($99 million) or 2.1 percent in 2021 compared to this year, Trend reports referring to the Azerbaijani Finance Ministry.
According to the ministry, the predicted budget of SOFAZ for next year will make up 8 billion manat ($4.7 billion).
“The expenses of the fund in 2021 will amount to slightly over 12.2 billion manat ($7.2 billion), which is 189.5 million manat ($111.4 million) or 1.5 percent less than in 2020,” the ministry said.
As reported, next year, the forecasted top limit of transfer from SOFAZ to the state budget will make up 12.2 billion manat ($7.2 billion).
From January through September 2020, SOFAZ had transferred over 8.8 billion manat ($5.2 billion) to the state budget within the forecasted amount.
During the reporting period, revenues of Azerbaijan’s state budget amounted to 17.9 billion manat ($10.5 billion) in the first nine months of 2020, and exceeded the forecasted figure by 1.2 percent or 206.5 million manat ($121.4 million).
The state budget expenditures for the reporting period amounted to 18.6 billion manat ($10.9 billion). Thus, a deficit of 677.6 million manat ($398.5 million) appeared in the budget.
(1 USD = 1.7 manat on Dec.22)
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