SOFAZ's earnings from oil and gas agreements did not cover the costs

12:28 - 31.07.2025

July 31, Fineko/abc.az. In 2024, the revenues of the State Oil Fund of Azerbaijan (SOFAZ) from oil and gas agreements could not fully cover budget expenditures.

ABC.AZ informs, referring to Accounts Chamber’s conclusion, that the main burden of financing SOFAZ's expenses accounted for investment income and extra-budgetary revenues. The income from the sale of oil and gas turned out to be insufficient to fully cover the planned expenses.

In conclusion, it is noted that the positive fiscal balance was achieved mainly due to income from SOFAZ's asset management.