Azerbaijan State Oil Fund’s assets grow 3.4% last year

The fund had a revenue of 12.7 billion manat from the sale of crude oil and natural gas. 

It spent 10.1 billion manat of the amount, including 9.3 billion manat allocated to the state budget.

Sofaz also spent 300 million manat on projects to build houses for people displaced from their homes as a result of the ongoing Armenian occupation of Azerbaijan’s Nagorno-Karabakh region and seven adjacent regions.

An additional 80.2 million manat was spent on reconstruction of the Samur-Absheron irrigation canal and 57.1 million on construction of Baku-Tbilisi-Kars railway.