SOFRA ANNOUNCES STATEMENT OF INCOME AND EXPENSES
Reportedly, Fund’s expenditures made 667,6 bln manats (133,5mln new manats).
In the same period, implementation of oil contracts and oil sales brought in some 1787,8 bln manats (357,5 mln new manats) and 1716,8 bln manats (343,4 mln new manats), respectively.
Some 60,2 bln manats (12mln new manats) of income fall to transportation payments of oil via Baku-Supsa pipeline, 4,6 bln manats (0,9 mln new manats) fall to bonus payments as well as 6,2 bln manats (1,2 mln new manats) – to per acre payments and 7,3 bln manats (1,5 mln new manats) – to foreign assets.
Some 316,5 bln manats (63,3 mln new manats) are receipts from the Stabilization account of the Ministry of Finance of Azerbaijan, spokesman of SOFRA added.
During these nine months, the Fund has spent 62 bln manats (32,4mln new manats) on improvement of social and economic conditions of refugees and IDPs, 45,9 bln manats (9,2mln new manats) - on Fund’s share in the BTC Pipeline.
The Fund has also transferred 455 bln manats (91 mln new manats) to the State Budget.
SOFRA’s activity expenses made 4,7 bln manats (0,9 mln new manats).
The off-budget expenditures and payments of the Fund made 423,1 bln manats (84,6 mln new manats), including expenditures related to revaluation of currency assets of the Fund - 405,7 bln manats (81,1 mln new manats).
During Jan-Sept, the Oil Fund has also transferred to the State Budget some 17,4 bln manats (3,5 mln new manats) of income taxes.
As of September 30, 2005, the Fund’s assets made 5 trillion 846 billion manats (1169 mln new manats; some $1273 mln).
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