Baku: In the first quarter of 2025, the State Oil Fund of the Republic of Azerbaijan (SOFAZ) reported an income of 232 million AZN from asset management.
According to Azeri-Press News Agency, off-budget income from exchange rate differences amounted to 4,999 million AZN during this period. As part of the 2025 budget execution, SOFAZ transferred 3,620.3 million AZN to the state budget.
Additionally, SOFAZ allocated 1.1 million AZN to fund the ‘State Program on Enhancing the International Competitiveness of the Higher Education System in the Republic of Azerbaijan for 2019-2023.’ Furthermore, 14.9 million AZN was designated for the ‘State Program for the Education of Youth in Prestigious Foreign Higher Education Institutions for 2022-2028.’
During the January to March period, SOFAZ’s administrative expenses reached 7.0 million AZN.