President Ilham Aliyev has signed a decree on the execution of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) budget for 2025.
“Elchi” reports that last year, SOFAZ’s budget revenues amounted to 17 billion 160.4 million manats, while budget expenditures totaled 14 billion 627.2 million manats.
During the year, the Fund generated 10 billion 266.3 million manats from the implementation of oil and gas agreements, including 9 billion 497 million manats from the sale of profit oil and gas, 765.7 million manats from bonus payments and transit, and 3.6 million manats from acreage payments. The organization received 8 billion 292.9 million manats from the “Azeri-Chirag-Gunashli” field and 958.8 million manats from the “Shah Deniz” field. Income generated from the management of the Fund’s assets amounted to 6 billion 894.1 million manats (with a yield of 6.2%).
During the reporting period, SOFAZ transferred 14 billion 481 million manats to the state budget, allocated 18.6 million manats for the financing of the “State Program on Increasing the International Competitiveness of the Higher Education System for 2019-2023,” 86.9 million manats for the financing of the “State Program on Education of Youth at Prestigious Higher Education Institutions of Foreign Countries for 2022–2028,” and spent 40.7 million manats on management.
The Fund’s extra-budgetary income resulting from foreign exchange rate fluctuations amounted to 20 billion 434 million manats.