SOFAZ’s currency sales almost triple

In 2024, the State Oil Fund of Azerbaijan (SOFAZ) carried out currency sales totaling over $7.128 billion, marking a 2.65-fold increase more year-on-year, Report informs, citing the SOFAZ.

In December 2024 alone, SOFAZ's currency sales amounted to $634.5 million, which is 3.2 times more compared to the same period of the previous year.

Last year, transfers from SOFAZ to the state budget should amount to 12.781 billion manats ($7.518 billion). However, the fund's revenue from currency sales was 12.118 billion manats ($7.128 billion), which is 662.55 million manats ($389.7 million) less than its obligation.