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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

SOFAZ’s budget for 2014 forecasted with surplus of over $427 mln

Posted on 11 October 2013

Surplus of Azerbaijani State Oil Fund’s (SOFAZ) budget, forecasted for 2014, will amount to 335.1 million manats, the drafts of Azerbaijan’s state and consolidated budgets for 2014, released by Azerbaijani Finance Ministry said.
SOFAZ’s revenues are forecasted at 11.63 billion manats, and expenses at 11.29 billion manats. SOFAZ’s expenses decreased by 17 per cent (or 2.3 billion manats) compared to the figures for 2013, and grew up by 18.2 per cent (or 1.7 billion manats) against the executed indicators for 2012. Alongside with this the SOFAZ’s budget for 2013 was projected with a deficit in the amount of 1.78 billion manats, with expected revenues of 11.82 billion manats and expenditures at 13.6 billion manats………………………………………..Full Article: Source


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