SOFAZ 2010 budget approved

  

 

 Ilham Aliyev, the President of the Republic of Azerbaijan signed on December 25, 2009 the Decree approving budget of the State Oil Fund of the Republic of Azerbaijan for the year 2010 including 5 963 126.7 thousand manats in revenues and 5 428 431.2 thousand manats in expenditures as followings:

 

N

Revenues

Amount
(in thousand manats)

1

Proceeds from sales of the Republic of Azerbaijan's share of hydrocarbons (exclusive of hydrocarbons' transportation costs, banking expenses, customs costs, independent surveyor, marketing and insurance costs, and also exclusive of the revenues from the SOCAR's share in the projects of which it is an investor, shareholder or partner)

 

5 564 476.9

2

 

Dividends from realizing of oil and gas projects (from BTC)

 

155 813.8

3

Revenues from management of SOFAZ's assets

 

241 936.0

4

Other revenues

 

900.0

 

Total

 

5 963 126.7

 

N

Directions of expenditures

Amount
(in thousand manats)

1

The expenditures for financing some projects concerning solution of the social and settlement problems of the refugees and internally displaced persons

 

80 000.0

2

Transfer to 2010 State Budget of the Republic of Azerbaijan

 

4 915 000.0

3

Financing construction of the Oguz-Qabala-Baku water supply system

 

200 000.0

4

Financing the reconstruction of the Samur-Absheron irrigation system

 

110 000.0

5

Financing "Baku-Tbilisi-Kars railway" project

 

80 000.0

6

Financing "State Programme on education of Azerbaijan youth in foreign countries in 2007-2015"

 

10 000.0

7

Oil Fund's operating expenditures

 

33 431.2

 

Total

 

5 428 431.2

  Approval of the Budget followed the procedures laid out in the Funds Statutory Regulations and Budgetary Regulations.