BAKU, Azerbaijan, Nov.16
Trend:
Transfers from the State Oil Fund of Azerbaijan (SOFAZ) to the state budget weren’t fully used this year, Finance Minister Samir Sharifov said during the discussion of the draft state budget of Azerbaijan for 2022 at a plenary session of the Milli Majlis (parliament), Trend reports on Nov. 16.
According to Sharifov, higher-than-expected oil prices helped to increase the revenues of the SOFAZ and the budget.
He noted that transfers from SOFAZ to the budget in 2021 were not fully used, which will allow reducing them in 2022.
“The difficulties caused by the COVID-19 pandemic have been left behind,” the head of the department said.