14:52 - 17.07.2024

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July 17, Fineko/abc.az. The investment income from management of foreign exchange funds of the State Oil Fund (SOFAZ) amounted to 2.818 billion manats for Jan-Jun 2024.

ABC.AZ reports that 6.39 billion manats were transferred to the State Budget as part of implementation of SOFAZ budget for 2024.

Over Jan-Jun 2024, 5.2 million manats were allocated to finance the "State Program to increase international competitiveness of the higher education system in Azerbaijan for 2019-2023", and 7.1 million manats to finance the "State Program for Youth Education in prestigious higher educational institutions of foreign countries for 2022-2026".

The expenses relating to the management of SOFAZ amounted to 11.6 million manats.

SOFAZ's off-budget revenues due to the difference caused by changes in exchange rates totaled 441.5 million manats for the reported term.