02.02.2009, 07:59
SOFAZ Announced Revenue & Expenditure for January-September 2008
OREANDA-NEWS. January 30, 2009. Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-December, 2008 reached 11 864,7 million manats, while budget expenditures constituted 4 291,8 mln. manats. 2008 budget revenues and expenditures of the Fund were executed accordingly 117% and 98%, reported the press-centre of SOFAZ.
Revenue of 11 633,5 mln. manats was received from implementation of oil and gas agreements, including 11 527,0 mln. manats from the sale of profit oil, 3,6 mln. manats as acreage payments, 2,8 million manats as bonus payments, 0,2 mln. manats as transit payments, 97,2 mln. manats from Azerbaijan's State participation share in the Heydar Aliyev Baku-Tbilisi-Ceyhan (BTC) Main Export Pipeline and 2,7 mln. from sale of assets received from foreign companies.
The revenues from managing assets of the Fund for the reporting period amounted to 231,2 mln. manats.
As per 2008 budget of the Fund, the expenditures in the amount of 145,0 mln. manats were directed to financing of improvement of social condition of refugees and internally displaced persons, 120,6 mln. manats and 211,8 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. 5,3 mln. manats were directed to financing Baku-Tbilisi-Kars railway and 2,3 mln. manats to financing "The state program on the education of Azerbaijan youth abroad in the years 2007-2015". 3 800,0 mln. manats were transferred to the state budget. The Fund's administrative and operational expenses in this period were 6,8 mln. manats.
The Fund paid profit tax and other taxes of 26,0 mln. manats. The Fund's extra-budgetary expenditure due to asset revaluation stood at 652,6 mln. manats.
Basket of currencies weighted return on the Fund's assets in 2008 constituted 3.79%.
The assets of SOFAZ as at January 1, 2009 has grown by 4,3 times compared to the beginning of the year and stood at 8 986,7 mln. manats (USD 11 219,2 mln.).
Revenue of 11 633,5 mln. manats was received from implementation of oil and gas agreements, including 11 527,0 mln. manats from the sale of profit oil, 3,6 mln. manats as acreage payments, 2,8 million manats as bonus payments, 0,2 mln. manats as transit payments, 97,2 mln. manats from Azerbaijan's State participation share in the Heydar Aliyev Baku-Tbilisi-Ceyhan (BTC) Main Export Pipeline and 2,7 mln. from sale of assets received from foreign companies.
The revenues from managing assets of the Fund for the reporting period amounted to 231,2 mln. manats.
As per 2008 budget of the Fund, the expenditures in the amount of 145,0 mln. manats were directed to financing of improvement of social condition of refugees and internally displaced persons, 120,6 mln. manats and 211,8 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. 5,3 mln. manats were directed to financing Baku-Tbilisi-Kars railway and 2,3 mln. manats to financing "The state program on the education of Azerbaijan youth abroad in the years 2007-2015". 3 800,0 mln. manats were transferred to the state budget. The Fund's administrative and operational expenses in this period were 6,8 mln. manats.
The Fund paid profit tax and other taxes of 26,0 mln. manats. The Fund's extra-budgetary expenditure due to asset revaluation stood at 652,6 mln. manats.
Basket of currencies weighted return on the Fund's assets in 2008 constituted 3.79%.
The assets of SOFAZ as at January 1, 2009 has grown by 4,3 times compared to the beginning of the year and stood at 8 986,7 mln. manats (USD 11 219,2 mln.).
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