ECONOMY
STATE OIL FUND REVENUES STEADILY RISE
During the nine month of 2004, the Oil Fund Budget set aside AZM 15,7 bln to finance settling and improvement of social conditions of refugee and IDP families ousted from native lands as a result of the ethnic purge committed by Armenia, AZM 36,4 bln as share of the Azerbaijan Republic in the Baku-Tbilisi-Ceyhan main export pipeline project, and AZM 488 bln were transferred to the State Budget.
Expenditures for the mentioned period constituted AZM 51,7 and those connected with revaluation of currency assets - AZM 49,4 bln. The State budget received AZM 33,6 bln. in tax revenues.
The Fund’s resources made up AZM 4 trillion 209 bln (approx US$ 857,7 mln) in 31 September 2004 against AZM 4 trillion 15 bln (approx US$ 815 mln) in 1 January 2004.
/US $1 = AZM 4,903/