From 2003 till June 30, 2015 total volume of transfers from the State Oil Fund to the state budget totaled 59,333,600,000 AZN, reads the web site of the Oil Fund.
According to SOFAZ, from 2003 to 2014 the state budget has used oil money to the amount of 55,531,500 AZN. During six months 2015 the volume of transfers from SOFAZ to the state budget totaled 3,802,100,000 AZN.
State Oil Fund started transfers to the state budget of Azerbaijan since 2003.
In 2013 the volume of transfers from the state budget totaled 11.35 billion AZN. A year later the showing decreased till 9,337,000,000 AZN. This year it is planned to transfer 10,388,000,000 AZN from the Oil Fund to the state budget.
In February 2015 the government has decided to devalue the national currency by 34%, because of slump of oil prices. Therefore, the government has saved reduction of the Oil Fund’s assets for a certain period.—0—
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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