$ 3,2 billion was transferred to the state budget from SOFAZ in the half of year al

$ 3,2 billion was transferred to the state budget from SOFAZ in the half of year alone

 

Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-June, 2011 reached 7827.2 million mantas ($ 10,034 billion), while budget expenditures constituted 2593.1 mln. Mantas ($ 3,324 billion).

Revenue of 7692.2 mln. manats for the period of January-June, 2011 was received from implementation of oil and gas agreements, including 7518.1mln. manats from the sale of profit oil and gas, 101.7 mln. manats from difference in price from the phase I of Shah Deniz, 66.8 mln. manats from dividends on Azerbaijan’s State participation share in the Heydar Aliyev Baku-Tbilisi-Ceyhan (BTC) Main Export Pipeline, 3.8 mln. manats as transit payments,  1.2 mln. manats as acreage payments and 0.6 mln. manats from sale of assets received from foreign companies.

The revenues from managing assets of the Fund for the reporting period amounted to 135.0 mln. manats.

The Fund’s extra-budgetary revenues related to the revaluation of foreign exchange totalled 482.4 million manats.

As per execution of 2011 Fund’s budget 2 461.0 mln. Mantas ($3,155 billion) were transferred to the state budget. The expenditures in the amount of 47.2 mln. manats were directed to financing of improvement of social condition of refugees and internally displaced persons, 64.1 mln. manats and 2.3 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. 4.6 mln. manats were directed to financing “The state program on the education of Azerbaijan youth abroad in the years 2007-2015”. 9.3 mln. manats were directed to financing Baku-Tbilisi-Kars railway.  The Fund’s administrative and operational expenses for current period were 4.6 mln. manats.

Source; SOFAZ, 2001

Note; 1,0 manat equals $ 1,28

 

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