SOFAZ off-budget revenues on exchange rate reached 151.7 million manats

16:42 - 22.04.2024

April 22, Fineko/ Over Jan-Mar 2024, the budget revenues of the State Oil Fund of Azerbaijan (SOFAZ) amounted to 5.268 bn manats and budget expenditures – 3.205 bn manats.

ABC.AZ reports with reference to SOFAZ that the figure is respectively 31.1% less or 2-fold more against Jan-Mar 2023.

SOFAZ revenues from oil and gas contracts totaled 3.421 bn manats (-38.9%), including from sale of profitable oil and gas – 2.645 bn manats (-45.2%), bonus payments - 775.9 million manats (+1.4%), transit revenues – 300,000 manats (-2.7-fold).

The Fund earned 1.846 bn manats (-9.8%) from asset management. SOFAZ off-budget revenues due to changes in the exchange rate reached 151.7 million manats.

The transfer to the State Budget within the budget execution for 2024 totaled 3.195 bn manats (+2-fold).

As of April 1, SOFAZ assets amounted to $57.372 bn (2.3% more versus Jan-Mar 2023).