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SOFAZ's transfers to state budget exceed AZN 150 bln

25 October 2024 09:51 (UTC +04:00)

As of October 1, 2024, the State Oil Fund of the Republic of Azerbaijan (SOFDF) has transferred a total of 152,736.7 million manats to the state budget, APA-Economics reports citing SOFAZ.

Noted that 9,585.8 million manats were transferred to the state budget within the framework of the implementation of the SOFAZ 2024 budget in January-September of this year.

Additionally, as of September 30, 2024, the assets of SOFAZ increased by 10% compared to the beginning of 2024 and amounted to 61,697.6 million US dollars.

Recalled that SOFAZ was founded on December 29, 1999. The fund is a special institution that ensures the collection, efficient management and preservation of oil and gas revenues for future generations. SOFAZ is an off-budget, separate state institution. Transparency is one of the main principles of the activity of SOFAZ. During this period, SOFAZ developed at a high institutional level and became an international financial organization.