Earlier it was reported that oil price in the state budget for 2021 amounted to $45.
According to official forecasts:
- the revenues of the state budget in 2022 will amount to about $15.781 billion
- an increase of 5.4 % compared to 2021
- state budget expenditures are projected at $15.822 billion
- Compared to 2021, state budget expenditures will also grow - by 4.7 %
Established in 1999, SOFAZ is a sovereign wealth fund, which accumulates and preserves Azerbaijan’s oil & gas revenues for future generations.
Since it regained its independence in 1991, Azerbaijan has come to play a meaningful role in shaping Europe’s energy market.
Azerbaijan exported 4.6 billion m3 of natural gas worth $1.4 billion to Europe in the 1st 9 months of 2021.