SOFAZ revenues will increase by 28%

Baku. 3 July. REPORT.AZ/ This year, revenues of the State Oil Fund of Azerbaijan (SOFAZ) is projected to grow by 27.6%.

Report informs referring to Chamber's opinion on Draft of amendments to the 2017 state budget.

Thus, in 2017, the approved state budget expected to grow from envisaged 8 370,6 mln AZN to 10 677,6 mln AZN.

It was noted that, the main reason is the increase in oil prices in the world markets by 35% in comparison with the projected rate in the first five months of the current year.

The State Oil Fund's expenditures are projected to increase from 14,451.3 mln. AZN to 14 459.1 mln. AZN.