Highways Fund Management Entrusted to Azeravtoyol JSC
President Ilham Aliyev signed on July 20 a decree, according to which the budget of the Highways Trust Fund will be managed by state-run Azeravtoyol.
In 2015, highways, bridges and road facilities were transferred to the balance of Azeravtoyol JSC. The joint stock company itself derived from the Ministry of Transport. The financing of road construction and maintenance was carried out from the state budget, not by the Ministry of Transport, but by Azeravtoyol. The latest decision of the President to amend the decree "On creation of the Highways Budgetary Trust Fund" complements this process.
In 2016 the budget of the Highways Budgetary Trust Fund was approved at the level of 261 million AZN. The funds are spent mainly on road maintenance.
In 2015 the Fund’s budget was executed at the level of 290 million AZN, and in 2014 - at 214 million AZN. -08D-
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