Baku. 14 February. REPORT.AZ/ Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for January-December, 2016 reached 9 410.2 million AZN, while budget expenditures constituted 9 022.1 million AZN.
Report informs referring to the Fund.
Revenue of 8 341.4 mln. AZN was received from implementation of oil and gas agreements, including 8 320.0 mln. AZN from the sale of profit oil and gas, 0.1 mln.AZN as bonus payments, 18.0 mln. AZN as transit payments and 3.3 mln. AZN as acreage payments.
The revenues from managing assets of the Fund for January-December 2016 amounted to 1 068.8 mln. AZN.
The Fund's extra-budgetary revenues related to the revaluation of foreign exchange totalled 5 705.7 mln. AZN.
As per 2016 budget of the Fund, 7 615.0 mln. AZN were transferred to the state budget. The expenditures in the amount of 90 mln. AZN were directed to financing the improvement of social-economic condition of refugees and internally displaced persons, 70.0 mln. AZN were used for financing the reconstruction of the Samur-Absheron irrigation system. 66.2 mln. AZN were directed to financing Baku-Tbilisi-Kars railway construction and 31.6 mln. AZN were directed to financing "The state program on the education of Azerbaijani youth abroad in the years 2007-2015". 797.4 mln. AZN were directed to financing of the “Southern Gas Corridor” project and 331.8 million manats for financing of the share of the Republic of Azerbaijan in the construction of “STAR” Oil Refinery Complex. The Fund's administrative and operational expenses for the reporting period were 20.1 mln. AZN.