SOFAZ's 2026 salaries and administrative expenses set at nearly 42M manats

This year, the salaries and administrative expenses of the State Oil Fund of Azerbaijan (SOFAZ) are planned to total 41.9 million manats ($24.6 million), Report informs, citing SOFAZ's 2026 budget, which provides details on planned expenditures.

According to the document, compared to last year, the SOFAZ salaries and administrative expenses have been reduced by 1.8 million manats ($1.1 million). This reduction has been implemented as part of overall cost optimization measures and in the context of lowering transfers to the state budget.

The Chamber of Accounts noted that administrative expenses include salaries, social contributions, and operational and administrative costs. The 2026 budget draft has taken these savings measures into account.