SOFAZ's Transfers To State Budget Decline By $725M In Jan-Sept

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 29. Transfers from the State Oil Fund of Azerbaijan (SOFAZ) to the state budget decreased by 1.2 billion manat ($725.1 million), or 11.4%, from January through September 2026 compared to the same period in 2025.

According to the report of the Azerbaijani Ministry of Finance, transfers from SOFAZ to the state budget accounted for 74.5% of revenues, or 9.6 billion manat ($5.66 billion).

In the reporting period, revenues from the oil and gas sector to Azerbaijan's state budget amounted to 12.93 billion manat ($7.61 billion), exceeding the forecast by 625.5 million manat ($367.9 million), or 5.1%.

Revenues collected through tax authorities accounted for 25.5% of state budget revenues from the oil and gas sector, or 3.3 billion manat ($1.94 billion).

Of the oil and gas revenues collected by tax authorities for the state budget, 39.4%, or 1.3 billion manat ($765.6 million), came from the relevant taxes paid by the State Oil Company of Azerbaijan (SOCAR).

In addition, 46.6% of revenues, or about 1.54 billion manat ($905.8 million), came from profit tax under the Shah Deniz gas condensate project, while 14%, or 461.1 million manat ($271.2 million), came from profit tax under the Azeri-Chirag-Gunashli (ACG) project.

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