BAKU, Azerbaijan, May 3
By Fidan Babayeva - Trend:
The State Oil Fund of Azerbaijan (SOFAZ) sold $509.9 million at currency auctions in April 2021, Trend reports referring to a source in SOFAZ.
According to the source, in March 2021, this figure was $397.7 million.
“The sale of currency is carried out within SOFAZ transfers to the state budget of Azerbaijan. In 2020, the volume of currency sales amounted to 11.35 billion manat ($6.67 billion),” the source said.
By the decree of the president of Azerbaijan dated August 31, 2020, changes were made to the budget of the State Oil Fund of Azerbaijan. According to the decree, the item of expenditure on the upper limit of transfers to the state budget of Azerbaijan for 2020 was increased to 12.2 million manat ($7.17 million).
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