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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