SOFAZ transferred fund amounted up to USD 107 bln. to state budget over past 18 years

SOFAZ transferred funds amounted to AZN 112,1 bln. or USD 106,9 bln. to the state budget in 2003-2020

Over the past 18 years (2003-2020) the volume of transfers of the State Oil Fund of the Republic of Azerbaijan to the state budget increased by USD 12,1 bln. or 122 times, Qazet.az reports citing the report of the SOFAZ for 2020.

The report notes that despite the transfer of the Oil Fund to the state budget made up AZN 100 mln. in 2003, this indicator increased by AZN 12 200 mln. in 2020.

The transfer made by the SOFAZ to the state budget was the highest in the reporting period (2003-2020).

According to the report, SOFAZ transferred funds amounted to AZN 112,1 bln. or USD 106,9 bln. to the state budget in 2003-2020.

During this period, the total budget expenditures of the SOFAZ were AZN 126 bln, and transfers made up 89% of these expenditures.