Today the State Oil Fund of Azerbaijan (SOFAZ) through an auction organized by the Central Bank of Azerbaijan, has sold another $ 50 million. According to SOFAZ, the same amount was sold at the end of trading yesterday - the day before and was offered $100 million, but the auction was attended by 21 banks, today was by one player less.
Sale of foreign currency by the Fund is carried out within transfers to the state budget, this is year provided $7 billion 615 million AZN.
By January 1, SOFAZ assets amounted to $ 33.57 billion (minus 9.5% in early 2015.) --17D-
Economics
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In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
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Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
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