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State Oil Fund’s 2026 budget projected to run a surplus

12 January 2026 11:44 (UTC +04:00)

The 2026 budget of the State Oil Fund of Azerbaijan (SOFAZ) is projected to have a surplus, APA-Economics reports, citing the opinion issued by the Chamber of Accounts on SOFAZ’s 2026 budget.

It was noted that despite a decline in oil production volumes, the projected sale price of crude oil being set at USD 65 per barrel (USD 5 lower), the absence of settlement payments, the minimization of transit and bonus revenues, and projected increases in other revenue sources (including management income and a 0.2% increase in the rate of return), budget revenues for 2026 are forecast to be 9.8% lower than the current year’s budget (by AZN 1.4201 billion).

At the same time, SOFAZ’s expenditures are projected to decrease by 11.1% (AZN 1.6249 billion), mainly due to a significant reduction in transfers to the state budget. As a result, the Fund’s 2026 budget is projected to post a surplus of AZN 17.0 million.

Rahim Tariverdiyev

Azerbaijan State Oil Fund SOFAZ 2026 budget budget surplus public finance oil revenues energy sector state budget transfers Chamber of Accounts economic forecast APA-Economics fiscal policy