SOFAZ fulfils budget commitments in 1Q by 44% less than forecast

In the first quarter of this year, the State Oil Fund of Azerbaijan (SOFAZ) transferred 1.576 billion manats ($927.058 million) to the state budget, which is 1.244 billion manats ($731.764 million) or 44.1% less than the forecasted figure, Report informs referring to the Ministry of Finance.

This was related to positive dynamics observed in budget revenues from tax and customs authorities.

As a result, SOFAZ didn’t fully fulfill its budget commitments.