SOFAZ transfers AZN 84.5B to state budget since 2003

SOFAZ transfers AZN 84.5B to state budget since 2003
  • Clock-gray 10:10
  • calendar-gray 17 July 2018

State Oil Fund of Azerbaijan (SOFAZ) transferred AZN 2,299,000,000 to the state budget in the first quarter of 2018, AZN 4,608,000,000 I the second quarter, SOFAZ told APA-Economics.

 

So, the budget transfer of SOFAZ from 2003 to July 1, 2018 made AZN 84,524,000,000.

 

In 2003, the Fund transferred AZN 100 million to the state budget. The transfers increased by 30% in 2004, 15.38% in 2005 and 3.9-fold in 2006. In 2007 SOFAZ’s transfers remained unchanged at AZN 585 million. In 2008, the transfers increased by 6.5-fold, 29.34% in 2009, 20.34% in 2010, 52.16% in 2011, 10.06% in 2012 and 14.59% in 2013.

 

The transfers declined 17.74% in 2014, 12.93% in 2015, 6.33% in 2016 abd 19.89% in 2017.

 

The highest volume of transfers from SOFAZ to the state budget was AZN 11,350,000,000 in 2013.

 

 

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