ECONOMY
SOFAZ REVENUE AND EXPENDITURE STATEMENT FOR JANUARY-MARCH 2007
Revenue of AZN 358,2 mln. was received from implementation of oil and gas agreements, including AZN 342,4 mln. from the sale of profit oil, AZN 0,9 mln. as bonus payments, and AZN 0,5 mln. from sale of assets received from foreign companies and AZN 14,4 mln. was received as the price difference between the contract value and domestic wholesale price of exported oil. The revenues from managing assets of the Fund for the reporting period amounted to AZN 15,4 mln.
As per 2007 budget of the Fund, the expenditures in the amount of AZN 27 mln. were directed to financing of building of housing and improvement of social condition of refugees and internally displaced persons. AZN 112,5 mln. was transferred to the state budget and AZN 7,3 mln. was utilized for financing the reconstruction of the Samur-Absheron irrigation system. The Fund’s administrative and operation expenses in first quarter of 2007 were AZN 0,9 mln.
The Fund’s extra-budgetary expenditures and payments in January-March 2007 were AZN 1,5 mln. due to asset revaluation expenses.
The assets of SOFAZ as at April 1st 2007 grew by 17,7% compared to the beginning of the year and stood at AZN 1491,8 mln.
(USD 1720,3 mln.).