23RF.com
The assets of the State Oil Fund of Azerbaijan (SOFAZ) in January-September 2016 increased by 6.7% to $ 35 billion 822.1 million, the Executive Director of the Fund Shahmar Movsumov told reporters.
Of these funds, $ 33 billion 949.6 million accounted for the share of the Fund's investment portfolio. $ 1 billion 872.5 million was available in AZN equivalent.
Revenue of the Fund for the reported period amounted to AZN 6 billion 618.6 million, expenses – AZN 3 billion 823.1 million, said Movsumov.
Revenues of the Oil Fund
|
Name |
Millions of AZN |
|
Income from oil and gas contracts |
5,883.8 |
|
Including income from the sale of profit oil and gas |
5,867.0 |
|
Transit operations |
13.4 |
|
Bonus payments |
100.0 |
|
Acre payments |
3.3 |
|
Management of its own funds |
734.8 |
|
Non-budgetary foreign exchange gains |
2,612.3 |
Expenditures of the Fund in the current year have been significantly behind the targets. E.g., transfers to the state budget have been only 43%.
|
Name |
Millions of AZN |
Forecast for 2016 |
|
Transfers to the state budget |
3,260.0 |
7,615.0 |
|
IDP expenditure |
73.8 |
90.0 |
|
Reconstruction project for the Samur-Absheron irrigation system |
39.1 |
70.0 |
|
Education of Azerbaijani students abroad |
20.8 |
36.558 |
|
Baku-Tbilisi-Kars railway |
48.6 |
137.622 |
|
South Gas Corridor project |
241.9 |
2,355.318 |
|
Star oil refinery (Turkey) |
127 |
331,776 |
|
SOFAZ management costs |
11.9 |
32.66 |
|
Total |
3,749.3 |
10,668.934 |
* According to estimates of Turan Information Agency, the expenditure side in the first 9 months of execution of the Oil Fund's budget made up only 35.1% of the annual forecast. -12B--
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