Today.Az » Business » Assets of State Oil Fund of Azerbaijan increases almost 20 percent in 2009
21 October 2009 [10:18] - Today.Az
Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) reached 5 465.2 million manats in January-September, 2009, while budget expenditures constituted 3 954.1 mln. manats, SOFAZ executive director Shahmar Movsumov said to press conference on outcomes of the nine months.
Revenue of 5 191.6 mln. manats was received from implementation of oil and gas agreements, including 5 107.2 mln. manats from the sale of profitable oil and gas, 6.8 mln. manats as transit payments, 75.6 mln. manats from state share in the Heydar Aliyev Baku-Tbilisi-Ceyhan (BTC) Main Export Pipeline, 1.1 mln. manats as acreage payments, 0.8 million manats as bonus payments and 0.1 mln. manats from sale of assets received from foreign companies.
The revenues from managing assets of the Fund for the reporting period amounted to 273.6 mln. manats. The Fund's extra-budgetary revenues related to the revaluation of foreign exchange totalled 218.4 million manats.
As per 2009 budget of the Fund, 3 685.0 mln. manats were transferred to the state budget. The expenditures in the amount of 69.6 mln. manats were directed to financing of improvement of social condition of refugees and internally displaced persons, 92.4 mln. manats and 94.1 mln. manats were accordingly used for financing the reconstruction of the Samur-Absheron irrigation system and financing construction of the Oghuz-Gabala-Baku water supply system. 4.1 mln. manats were directed to financing Baku-Tbilisi-Kars railway and 3.2 mln. manats to financing "The state program on the education of Azerbaijan youth abroad in the years 2007-2015". The Fund's administrative and operational expenses in this period were 5.7 mln. manats.
According to Movsumov, the assets of SOFAZ as at October 1, 2009 has grown by 19.24 % compared to the beginning of the year and stood at 10 716.2 mln. manats (USD 13 337.5 mln.).
/Trend Capital/
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