A meeting of the Supervisory Board of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) was held on December 16, 2010. The meeting chaired by Mr. Artur Rasi-zadeh, Prime Minister of Azerbaijan and Chairman of the Supervisory Board discussed the SOFAZ draft budget for 2011.
The Board approved the Fund's 2011 budget revenues at 9 132 941.0 thousand manats, its expenditures at 6 886 155.4 thousand manats and the Fund's operating expenditures at 57 494.3 thousand manats. The Supervisory Board recommended the Fund's 2011 draft budget, including the major directions of its investment policy, and its draft annual operating expenditures for the approval by President of the Republic of Azerbaijan.Share
