President of State Oil Fund of Azerbaijan Approved Budget for 2015

The decree of the President of Azerbaijan Ilham Aliyev on January 19 approved the budget of the State Oil Fund of AR (SOFAR) in 2015.

According to the budget, SOFAR income for 2015 was estimated at 10,246,611,900 manat, expenses - 11,813,909,200 AZN.

In the structure of revenues the sale of profit oil and gas production in Azerbaijan amounted to 9,741,175,600 manat, acre payments - 1,568,400 manat, and revenues from oil and gas transit through the territory of Azerbaijan - AZN 9,410,400. In addition, the proceeds from the placement of funds and asset management are provided in the amount of 494 357 500 manat, and other income - 100,000 manat.

In the structure of expenditure fund transfers constitute the largest part of the state budget of Azerbaijan - 10.388 billion manat.

Expenses for the improvement of living conditions of refugees are provided in the amount of 150 million manat, for the reconstruction of the Samur-Absheron irrigation system - 90 million manat, the construction of the Baku-Tbilisi-Kars railway - 111,487,000 manat, and the cost of financing the state program of study of Azerbaijan youth abroad in the years 2007-2015 - 44.088 million manat.

In addition, the State Oil Fund budget for 2015 includes the cost of financing the government's share in the project Southern Gas Corridor - 997,016,200 manat.

Expenses for the Fund management have been approved at 33,318,000 manat.

Recall that SOFAR revenues for 2014 were approved at the level of 11,626,943,400 manat, expenses - 11,349,934,800 AZN.

The official exchange rate for January 19 is 0.7844 AZN / USD. -0--