SOFAZ's revenues in I quarter reaches AZN 5.3 billion

# 20 April 2024 12:03 (UTC +04:00)

During January-March of 2024, the budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) amounted to AZN 5,268.3 million, and the budget expenses amounted to AZN 3,205.4 million, APA-Economics reports citing SOFAZ.

According to the information, during January-March of 2024, SOFAZ's revenues regarding with the implementation of oil and gas agreements amounted to AZN 3,421.4 million, including AZN 2,645.5 million from the sale of profit oil and gas, and AZN 775.9 million from bonus payments, and the transit revenues amounted to AZN 0.3 thousand.

The income obtained from the management of the fund's assets amounted to AZN 1,846.9 million.

During the reporting period, AZN 3,195.3 million were transferred to the state budget within the framework of the implementation of the SOFAZ 2024 budget. In the mentioned period, the expenses related to the management of SOFAZ amounted to AZN 5.9 million.

The non-budget income of SOFAZ due to the difference caused by currency changes amounted to AZN 151.7 million during the reporting period.