SOFAZ Supervisory Board approves 2026 draft budget for presidential submission

A meeting of the Supervisory Board of the State Oil Fund of Azerbaijan (SOFAZ) was held on December 19, Report informs, referring to the Cabinet of Ministers.

The agenda of the meeting chaired by Azerbaijani Prime Minister Ali Asadov, who also heads the Supervisory Board, included discussions on the fund's 2026 budget projections, revenues, directions of expenditure, investment policy, currency composition and profitability of the investment portfolio, as well as other current issues.

At the meeting, a report was presented by SOFAZ Executive Director Israfil Mammadov.

As a result, taking into account the opinions and proposals of the Supervisory Board members, a decision was adopted to submit the SOFAZ's 2026 draft budget to Azerbaijani President Ilham Aliyev.