BAKU, Azerbaijan, July 18. The budget revenues of the State Oil Fund of Azerbaijan (SOFAZ) amounted to 6.935 billion manat ($4.08 billion), while expenditures – 4.66 billion manat ($2.7 billion) from January through June 2022, Trend reports referring to the fund.
In the first half of 2022, SOFAZ's receipts from the oil and gas agreements totaled 10.369 billion manat ($6.1 billion), including profits from the oil and gas sales – 9.588 billion manat ($5.6 billion), bonus payments – 768.7 million manat ($452.57 million), as well as transit income – 7.2 million manat ($4.2 million).
During the reporting period, 4.648 billion manat ($2.7 billion) were transferred to the state budget as part of the implementation of the SOFAZ budget for 2022.
The "State program to improve the international competitiveness of Azerbaijan's higher education system for 2019-2023" has been allocated 4.2 million manat ($2.47 million).
The management expenses of SOFAZ made up 11 million manat ($6.47 million) from January through June 2022. In the reporting period, the negative difference caused by short-term fluctuations in the market value reached 3.434 billion manat ($2.02 billion).
The fund's off-budget expenditures related to changes in foreign exchange rates amounted to 1.79 billion manat ($1.05 billion).
As of June 30, 2022, SOFAZ assets totaled $45.306 billion, increasing by 0.63 percent, compared to the beginning of 2022.