The budget of the State Oil Fund of Azerbaijan (SOFAZ) for 2016 has been approved by the decree of President Ilham Aliyev on 29 December.
The income of the Fund is projected at 6.7 billion manats, while the expenses are projected at 8.18 billion manats.
It is planned that the SOFAZ revenues will be generated from the net income of 6.09 billion manat, acre payments of 2.1 million AZN, the income from the transit of hydrocarbons - 12.6 million manat, the income from asset management and allocation – 604.8 million. manat, and other income – 210,000 AZN.
The expenditure includes: transfers to the state budget - 6 billion manat, funds for the improvement of living conditions of refugees - 90 million manat, for the reconstruction of the Samur-Absheron irrigation system - 70 million manat, for the construction of the railway Baku-Tbilisi- Kars – 137.6 million manat, to finance the state program on the education of youth abroad in 2007-2015 – 36.5 million manat, and to finance the state's share in the projects of the Southern Gas Corridor - 1.82 billion manat.
24.4 million AZN has been allocated for the management of SOFAZ. -0-
Economics
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