...

Azerbaijan shares projections on SOFAZ income, expenses for 2023

Economy Materials 28 November 2022 21:02 (UTC +04:00)
Azerbaijan shares projections on SOFAZ income, expenses for 2023
Kamran Gasimov
Kamran Gasimov
Read more

BAKU, Azerbaijan, November 28. The budget revenues of the State Oil Fund of Azerbaijan (SOFAZ) are projected to reach 8.99 billion manat ($5.28 billion), while expenditures – 11.392 billion manat ($) in 2023, Trend reports citing the Accounts Chamber's comments on the SOFAZ budget-2023.

According to the document, in 2023, 6.571 billion manat ($3.8 billion), or 73.1 percent of the fund's income will make up net income from the oil and gas sales, 4.3 million manat ($2.5 million) – income from per-acre payments, 23.6 million manat ($13.86 million) – transit income, 800.8 million manat ($470.39 million) – from bonus payments, and 1.59 billion manat ($933.96 million) – from funds management.

Meantime, 11.28 billion manat ($6.6 billion), or 99 percent of the fund's expenditures, will be the state budget transfers. In addition, the SOFAZ will spend 38.5 million manat ($22.6 million) on the "State Program for Improving the International Competitiveness of the Higher Education System for 2019-2023", 36.7 million manat ($21.55 million) on the "State Program for Training Youth in Prestigious Higher Educational Institutions of Foreign Countries for 2022-2026 years", and 37.1 million manat ($21.79 million) – on management.

Thus, a deficit of 2.401 billion manat ($1.4 billion) will be formed in the SOFAZ budget-2023.

Tags:
Latest

Latest