Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) by the end of 2019, reached AZN 19 030.6 million, while budget expenditures amounted to AZN 11 588.6 million.

In 2019, the amount of AZN 15 404.7 million was generated from the implementation of oil and gas agreements, including AZN 14 614.7 million from the sale of profit oil and gas, AZN 766.4 million from bonus payments, AZN 4.7 million of acreage fees and AZN 18.9 million transit payments.

During the last year, SOFAZ’s revenues from asset management totaled AZN 3 625.9 million, which accounted for 19.1% of total revenues.

SOFAZ’s extra-budgetary revenues related to the foreign exchange gains amounted to AZN 731.7 million.

In 2019, the amount transferred to the state budget was equal to AZN 11 364.3 million. The amount allocated to the improvement of the socio-economic conditions of refugees and internally displaced persons constituted AZN 200 million. In addition, SOFAZ’s administrative and operational expenses for the reporting period were AZN 24.3 million.

The assets of SOFAZ as of January 1, 2020, have increased by 12.48% in comparison with the beginning of 2019 (USD 38 515.2 million) and reached USD 43 323.3 million. Increase in the assets was due to SOFAZ’s oil and gas inflows, as well as the management of the assets. Within investment portfolio, each asset class generated positive return with the equity sub-portfolio providing the highest one. Though the equity investments performed negatively (-6.6%) in 2018, the return for 2019 was 21.5% (including private equity).