For 2021, the budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) amounted to 15,985.6 million manats ($9,403 million), and budget expenditures – 11,382.7 million manats ($6,695.7 million).
According to SOFAZ, the Fund’s income from the implementation of oil and gas operations in 2021 amounted to 12,698.2 million manats, including 11,894.6 million manats from the sale of profitable oil and gas, bonus payments of 776.9 million manats, per-acre payments of 5.3 million manats, transit revenues 21.4 million manats.
Income from asset management of the Fund last year amounted to 3 billion 287.4 million manats, which is 20.56 percent of all income.
Off-budget expenses of the Oil Fund due to fluctuations in the exchange rate amounted to 2 billion 119.3 million manats.
At the end of 2021, 11 billion 350 million manats were transferred from the Oil Fund to the state budget of Azerbaijan. AZN 10.2 million was allocated to finance the State Program for Improving the International Competitiveness of the Higher Education System in the Republic of Azerbaijan for 2019-2023. The costs associated with the management of SOFAZ in 2021 amounted to 22.5 million manats.
As of January 1, 2022, the assets of the Oil Fund amounted to $45,025.1 million, an increase of 3.35% compared to the beginning of 2021 ($43,564.3 million).
Caspian Barrel
