Azerbaijani President signs decree "On budget of State Oil Fund for 2023"

Azerbaijani President Ilham Aliyev has amended the decree "On the budget of the State Oil Fund for 2023" of December 30, 2022, Azernews reports.

President of Azerbaijan Ilham Aliyev has signed a corresponding decree in this regard.

According to the decree, the forecast of budget revenues of the State Oil Fund has been increased from 8.9 million manat ($5.2 million) to 16.3 million manat ($9.5 million), and the forecast of budget expenditures - from 11.3 million manat ($6.6 million) to 11.8 million manat ($6.9 million).

As a result, the expected budget deficit of the Fund in the amount of 2.4 million manat ($1.4 million) was replaced by a surplus of 4.4 million manat ($2.5 million). The amount of the transfer from the State Oil Fund to the state budget this year increased from 11.2 million manat ($6.5 million) to 11.7 million manat ($6.8 million).