Amount by which SOFAZ management revenues to increase

17:22 - 8.12.2023


December 8, Fineko/abc.az. Revenues from the management of finances of the State Oil Fund (SOFAZ) in 2024 are projected to amount to $1.842 billion (AZN 3.131 billion) that is by AZN 6.745 billion more versus the performance indicator of 2022 (-AZN 3.613 billion) in manat terms.

ABC.AZ reports that this is stated in Accounts Chamber’s conclusion on SOFAZ budget for 2024.

In 2023, revenues from the management of SOFAZ finances were initially projected at 2% or AZN 1.59 billion, but subsequently, taking into account market processes, the expected profitability in the adjusted budget was determined at 4.5%, based on 9-month performance indicators, it was stated that revenues from the management of finances amounted to AZN 2.65 billion or 3.1%.

 

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