Revenues of Azerbaijan's Oil Fund to increase sharply, while expenditures to decrease

Revenues of Azerbaijan
# 28 November 2022 16:45 (UTC +04:00)

Budget revenues of State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the next year are forecasted in the volume of AZN 8 990,9 mln., which is AZN 6 994,8 mln. or 43.8% less as compared to the relevant implementation indicator of 2021, AZN 6 798,2 mln. or 43.1% less as compared to forecast for 2022, and AZN 6 137,7 mln. or 40.6% less as compared to the expected implementation indicator of 2022, it has been reflected in the Commentary of the Chamber of Accounts on "Draft budget of the State Oil Fund of the Republic of Azerbaijan for 2023", APA-Economics reports.

According to information, expenditures of the Fund for 2023 are expected to be AZN 11 392,3 mln., which is AZN 9.7 mln. or 0.1% more as compared to the relevant implementation indicator of 2021, AZN 204,8 mln. or 1.8% less as compared to forecast for 2022, and AZN 994,0 mln. or 9.6% more as compared to the expected implementation indicator of 2022.

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