Azerbaijan’s head endorsed implementation of SOFAZ budget 2017 and amendments to its budget 2018


July 18, Fineko/abc.az. President Ilham Aliyev has approved execution of the budget of the State Oil Fund of Azerbaijan (SOFAZ) for 2017.

SOFAZ revenues for 2017 totaled AZN 12.137 bn and expenditures AZN 11.015 bn.

Also, the country’s leader approved the amendments to the SOFAZ budget for 2018.

Under the amendments, SOFAZ revenues for 2018 were increased up to AZN 15.3 bn and expenditures AZN 11.48 bn.

Initially, SOFAZ revenues for 2018 were approved in the amount of AZN 11.559 bn and expenditures AZN9.7 bn. The SOFAZ budget revision is linked with change in the oil price.