State budget received $55 billion from oil fund
During the past ten years the transfers from the State Oil Fund of Azerbaijan (SOFAZ) to the state budget of Azerbaijan totaled 43,425,000,000 AZN ($55 billion at the current exchange rate).
The transfers from SOFAZ to the state budget started since 2003.
If during 2003 share of transfers from the Oil Fund in the revenues of the state budget constituted 8.2%, in 2011-2012 it increased up to 57.3%. According to this year’s forecast, share of transfers from SOFAZ in the revenues of the state budget reached 59.3%.
During 2013 it is planned to transfer over 11 billion AZN from the Oil Fund to the state budget. During 9 months, 2013 the volume of transfers totaled 8,339,900,000 AZN.—0-
Economics
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