Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-December, 2010 reached 13 088.5 million manats, while budget expenditures constituted 6 386.5 mln. manats. 2010 budget revenues and expenditures of the Fund were executed accordingly 144.9 % and 99.4%.
Revenue of 12 932.6 mln. manats was received from implementation of oil and gas agreements, including 12 761.1 mln. manats from the sale of profit oil and gas, 158.7 mln. manats from Azerbaijan's State participation share in the Heydar Aliyev Baku-Tbilisi-Ceyhan (BTC) Main Export Pipeline, 8.3mln. manats as transit payments, 1.2 mln. manats as acreage payments, 1.7 mln. manats from sale of assets received from foreign companies and 1.6million manats as bonus payments.
The revenues from managing assets of the Fund for the reporting period amounted to 155.9 mln. manats.
As per 2010 budget of the Fund, 5915.0 mln. manats were transferred to the state budget. The expenditures in the amount of 104.9 mln. manats were directed to financing of settlement of the problems of refugees and internally displaced persons, 131.0 mln. manats and 199.6 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, 9.6 mln. manats to financing "The state program on the education of Azerbaijan youth abroad in the years 2007-2015" and 12.4mln. manats were directed to financing Baku-Tbilisi-Kars railway. The Fund's administrative and operational expenses in this period were 14.0 mln. manats.
The Fund's extra-budgetary expenditures related to the revaluation of foreign exchange totaled 502.7 million manats.
The assets of SOFAZ as at January 1, 2011 has grown by 52.8 % compared to the beginning of 2010 (USD 14 900.4 mln.) and stood at USD22 766.8 mln.
Revenue of 12 932.6 mln. manats was received from implementation of oil and gas agreements, including 12 761.1 mln. manats from the sale of profit oil and gas, 158.7 mln. manats from Azerbaijan's State participation share in the Heydar Aliyev Baku-Tbilisi-Ceyhan (BTC) Main Export Pipeline, 8.3mln. manats as transit payments, 1.2 mln. manats as acreage payments, 1.7 mln. manats from sale of assets received from foreign companies and 1.6million manats as bonus payments.
The revenues from managing assets of the Fund for the reporting period amounted to 155.9 mln. manats.
As per 2010 budget of the Fund, 5915.0 mln. manats were transferred to the state budget. The expenditures in the amount of 104.9 mln. manats were directed to financing of settlement of the problems of refugees and internally displaced persons, 131.0 mln. manats and 199.6 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, 9.6 mln. manats to financing "The state program on the education of Azerbaijan youth abroad in the years 2007-2015" and 12.4mln. manats were directed to financing Baku-Tbilisi-Kars railway. The Fund's administrative and operational expenses in this period were 14.0 mln. manats.
The Fund's extra-budgetary expenditures related to the revaluation of foreign exchange totaled 502.7 million manats.
The assets of SOFAZ as at January 1, 2011 has grown by 52.8 % compared to the beginning of 2010 (USD 14 900.4 mln.) and stood at USD22 766.8 mln.
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