Transfers from Oil Fund to State Budget to Be Reduced

The Government of Azerbaijan plans in 2019-2021 to reduce transfers from the State Oil Fund (SOFAZ) to the state budget by 28.8% – up to 6 billion 561.6 million manat.

According to budgetary materials, next year transfers from SOFAZ to the state budget will amount to 9 billion 216 million manat or 45.8% of all budget revenues.

In 2019 transfers from SOFAZ are forecasted at the level of 7 billion 520.7 million manat or 40% of budget revenues.

In 2020, transfers from the State Oil Fund are projected at 7 billion 520.8 million manat or 39.3% of budget revenues.

In 2021 transfers from SOFAZ are planned to be 6 billion 561.6 million manat or 35.5%.

Caspian Barrel