Gold holdings provided an additional boost, as prices climbed to historic highs amid central bank purchases, geopolitical risks, and global uncertainty, generating significant extra-budgetary income for SOFAZ’s gold sub-portfolio. According to SOFAZ, budget revenues for last year amounted to 17.16 billion manats (about $10.1 billion), while expenditures stood at 14.63 billion manats (around $8.6 billion).
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