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Sovereign Wealth Funds Briefing - Categorized | Financials, Reserve Currencies

Oil Fund to cease to be main financial source for Azerbaijan’s budget since 2017

Posted on 22 November 2016

The State Oil Fund (SOFAZ) is unlikely to be the main financial source for the budget of Azerbaijan. Presenting State Budget 2017, the Ministry of Finance of Azerbaijan reported that the transfer to the budget from SOFAZ will reduce from AZN 7.615 bn to AZN 6.1 bn, and the Ministry of Taxes, revenues from which are expected to increase from AZN 7.01 bn up to AZN 7.21 bn will be ahead of it on the significance for the State Budget.
The State Customs Committee will remain the third most important financial source. It is expected to increase charge from AZN 1.8 bn up to AZN 2.2 bn…………………………………….Full Article: Source


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