The assets of the State Oil Fund of the Republic of Azerbaijan (SOFAR) in 2022 increased by 8.9% – up to $49 billion 33.6 million
According to SOFAZ, the income of the Oil Fund for 2022 amounted to $9 billion 586 million. At the same time, the fund’s income from the sale of profitable oil and gas amounted to 19 billion 698.9 million manats (about $11.6 billion), transit income – 7.2 million manats, bonus payments – 768.7 million manats, per acre payments – 5.6 million manats.
According to the fund, the negative difference that arose in 2022 because of short-term fluctuations in the market value associated with the revaluation of SOFAZ assets amounted to $2 billion 461.3 million.
In general, the Fund’s expenses in 2022 amounted to $4 billion 699 million. SOFAZ’s off-budget expenses from exchange rate fluctuations amounted to $878.5 million.
In the structure of the Fund’s expenses, transfers to the state budget amounted to 7 billion 923 million manats ($4.66 billion), 22.2 million manats were allocated to finance the State Program for Higher Education. Administrative expenses for managing the Fund amounted to 27.9 million manat.
The share of assets of the Oil Fund at the end of the year amounted to 68.6% in US currency (at the end of 2021 – 69%). At the same time, in the structure of the investment portfolio, 20.4% is placed in euros (19.5%), 5.2% – in British pounds (5.1%).