Transfers from SOFAZ to 2024 state budget to be increased by 9% 

The State Oil Fund of Azerbaijan (SOFAZ) is planned to transfer 12.781 billion manats ($7.52 billion) to the state budget in 2024, up 8.9% from the approved forecast for 2023, Report informs, citing the Finance Ministry.

The planned transfers from SOFAZ constitute 37.9% of forecasted budget revenues.

In January–June 2023, SOFAZ transferred 2.661 billion manats ($1.57 billion) against the forecast of 5.640 billion ($3.32 billion).