TODAY.AZ / Politics

Ilham Aliyev approves 2019 budget of Azerbaijani State Oil Fund

28 December 2018 [20:10] - TODAY.AZ

By  Trend

Azerbaijani President Ilham Aliyev has signed a decree to approve the 2019 budget of the State Oil Fund of the Republic of Azerbaijan (SOFAZ).

According to the approved budget, SOFAZ’s revenues for 2019 are set at 15,450,149,700 manats, expenditures are set at 11,595,238,400 manats.

SOFAZ’s revenues from the sale of profitable oil and gas are forecast at 13,218,752,600 manats, acreage fees at 4.692 million manats, income from oil and gas transit through Azerbaijan at 19.04 million manats.

Meanwhile, SOFAZ’s revenues from placement and management of assets are forecast at 1,442,495,100 manats, bonuses paid by investors within oil and gas agreements or in connection with their implementation at 765,170 manats.

A lion’s share in SOFAZ's expenditures will account for transfers to the state budget – 11,364,300 manats.

Expenditures for improvement of living conditions of refugees are stipulated at 200 million manats.

The management expenses have been approved at 30,938,400 manats.

At the same time, 9,440,740 manats of expenditures will account for salaries, expenditures for the purchase of goods and services – 4,819,425 manats, for grants and other payments – 765,480 manats, for rental and paid services – 20,000 manats, for banking costs – 2,935,441 manats.

Expenditures for pensions and social payments are stipulated at 65,000 manats, for purchase of non-financial assets at 4,180,884 manats, while 20,378,341 manats are stipulated for other expenses.


Print version

Views: 943

Connect with us. Get latest news and updates.

Recommend news to friend

  • Your name:
  • Your e-mail:
  • Friend's name:
  • Friend's e-mail: