SOFAZ transfers nearly $100B to budget so far

The State Oil Fund of Azerbaijan (SOFAZ) received $154.6 billion from its establishment until June 30, SOFAZ Deputy Executive Director Israfil Mammadov said at a round table on ‘Contract of the Century: The magnificent foundation of Azerbaijan's rise’ held at the Executive Secretariat of the New Azerbaijan Party, Report informs.

According to him, of this, $148.3 billion came from implementation of oil and gas projects, $6.3 billion from managements of funds in the SOFAZ.

He said the expenditures made up $112 billion, of which $95.5 billion was transferred to the state budget.