$ 12,1 billion will be transferred to State Budget from the SOFAZ in 2011 alone

$ 12,1 billion will be transferred to State Budget from the SOFAZ in 2011 alone Although The State Oil Fund of the Republic of Azerbaijan (SOFAZ) assets reached 30,2bn USD dollars (July, 01, 2011), oil dependency was highly increased in Azerbaijan in 2011, the Center for Economic and Social Development (CESD) announced.  Fund’s assets increased from 22,8 billion at the beginning of 2011 up to 30 billion USD dollars. Share of oil sector in the state budget reached 78 % meanwhile... Read More