Baku 23˚C Mostly cloudy

SOFAZ revealed budget revenue and expenditure for 2022

Headlines 18:17 02 Nov, 2021

Budget revenue of the State Oil Fund of the Republic of Azerbaijan for 2022 is forecasted AZN 10 589,7 mln

SOFAZ revealed budget revenue and expenditure for 2022

Budget revenue of the State Oil Fund of the Republic of Azerbaijan for 2022 is forecasted AZN 10 589,7 mln, SOFAZ told Qazet.az.

“Average export price (selling price) of 1 barrel of oil, which is the basic indicator of the budget of the State Oil Fund for 2022 has been envisaged USD 50 for the next year. In accordance with this indicator, the total volume of budget revenues and expenditures of the Fund for 2022 is projected AZN 10 589,7 mln and AZN 12 784,5 mln. respectively,” noted the Fund.

According to the calculations, as a result, budget deficit is expected to be AZN 2 194,8 mln. in 2022.