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SOFAZ fulfils budget commitments in 1Q by 44% less than forecast
Finance
- 17 April, 2023
- 15:15
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.
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