SOFAZ Revenue and Expenditure Statement for January-September 2010
Baku, November 4 (AZERTAC). Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-September, 2010 reached 9 578.2 mln. manats, while budget expenditures constituted 3 944.6 mln. manats.
Revenue of 9 458.7 mln. manats was received from implementation of oil and gas agreements, including 9 346.0 mln. manats from the sale of profit oil and gas, 105.0 mln. manats from State share in the Heydar Aliyev Baku-Tbilisi-Ceyhan (BTC) Main Export Pipeline, 5.4 mln. manats as transit payments, 1.2 mln. manats as acreage payments and 1.1 mln. manats from sale of assets received from foreign companies.
The revenues from managing asset of the Fund for the reporting period amounted to 119.5 mln. manats.
As per 2010 budget of the Fund, 3 625.0 mln. manats were transferred to the State budget. The expenditures in the amount of 80.0 mln. manats were directed to financing of improvement of social condition of refugees and internally displaced persons, 109.6 mln. manats and 112.1 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. 3.8 mln. manats were directed to financing "State Program on Education of Azerbaijani Youth Abroad in the Years 2007-2015" and 2.9 mln. manats to financing Baku-Tbilisi-Kars new railway. The Fund`s administrative and operational expenses for the reported period were 11.2 mln. manats.
The Fund`s extra-budgetary expenditures related to the revaluation of foreign exchange totalled 164.9 mln. manats.
The assets of SOFAZ as at October 1, 2010 has grown by 45.8 % compared to the beginning of the year (USD 14 900.4 mln.) and stood at USD 21 720.8 mln.