The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has transferred a total of AZN 155,931.9 million to the state budget as of January 1, 2025, APA-Economics reports citing the State Oil Fund.
Note that, within the framework of the execution of SOFAZ's 2024 budget, a total of AZN 12,781 million was transferred to the state budget last year.
Additionally, it is important to mention that as of December 31, 2024, SOFAZ’s assets amounted to USD 60,031.4 million, which is a 7.1% increase compared to the beginning of 2024 (USD 56,069.7 million).
Recall that SOFAZ was founded on December 29, 1999. The fund is a special institution that ensures the collection, efficient management and preservation of oil and gas revenues for future generations. SOFAZ is an off-budget, separate state institution. Transparency is one of the main principles of the activity of SOFAZ. During this period, SOFAZ developed at a high institutional level and became an international financial organization.
