![SOFAR expenditures next year will be reduced by 2 billion, compared with this year](https://turan.az/resized/./turan-750-500-resize.webp)
SOFAR expenditures next year will be reduced by 2 billion, compared with this year
Placement of currency would bring the State Oil Fund of Azerbaijan (SOFAR) next year 380 million AZN ($ 480 million).
As told reporters when discussing the parliamentary committees draft budget for 2014 on Monday the Executive Director Shahmar Movsumov, the overall revenue of SOFAR is projected at 11 billion 627 million manat and the expenses - 11 billion 291 million manats with surplus to 336 million manat.
The official said that while the current budget is a surplus despite last year's forecasts. The reason for that is the favorable price situation on the world oil markets. As a result, the budget of the fund will be increased, which will affect the growth of assets (+ $ 1 billion).
For the record - as of October 1, 2013 SOFAR assets were $ 35 billion 809.2 million; the revenue for 2013 was approved at the level of 11 billion 482 million 40.4 million manat, and the expenses - 13 billion 403 million 99.4 thousand manats.
The fund accumulates revenues from oil contracts, in particular from the sale of profit oil by the state, transit tariffs for the transportation of oil and gas across the country, the rental of state property, etc. - 17D-
Economics
-
Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
-
Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
-
The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
-
There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
Leave a review