15:38 - 13.10.2023

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October 13, Fineko/abc.az. Over Jan-Sept 2023, the assets of the State Oil Fund of Azerbaijan (SOFAZ) increased by 13.2% and as of October 1 amounted to $55.524 billion.

ABC.AZ reports with reference to SOFAZ that for the past 9 months SOFAZ budget revenues amounted to AZN 14.878 billion and expenditures – AZN 3.587 billion.

SOFAZ revenues from oil & gas contracts totaled AZN 12.227 billion, including from the sale of profitable oil and gas – AZN 11.4 billion, bonus payments – AZN 800.7 million, acre payments – AZN 3.6 million, transit revenues – AZN 800,000. The Fund earned AZN 2.65 billion on the management of funds.

The transfer to the State Budget within the budget execution for 2023 amounted to AZN 3.55 billion. AZN 10.8 million were allocated to finance the State Program on increase of international competitiveness of the higher education system for 2019-23.