In January-September the assets of the State Oil Fund of Azerbaijan (SOFAZ) amounted to 34 billion 738.1 million (minus 6.38% to the beginning of the year).
According to the report, its revenues were at the level of 5 billion 543.4 million at a cost of 6 billion 397.1 million manats.
The income includes proceeds from the sale of profit oil and gas (5 billion 479,500,000), transit revenues - 8.4 million, bonus payments - 2.1 million and acre payments - 2.2 million manats. The revenues from managing assets of the Fund amounted to 51.2 million manats.
Traditionally, the most popular item of expenditure became transfers to the state budget - 5 billion 650 million manats. Among other major projects funded there will be the Southern Gas Corridor - 489.3 million, improvement of living conditions of refugees - 130.4 million manats, reconstruction of the Samur-Absheron irrigation system - 67.8 million manats, construction of the railway Baku-Tbilisi Kars - 22 6 million manats. In addition, the money spent on the financing of the state program on education of Azerbaijani youth abroad - 16.8 million manats and administrative expenses for fund management - 20.2 million manats.
SOFAZ budget revenues associated with changes in foreign currency amounted to 7 billion 828.3 million manats. --17D-
Economics
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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.
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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.
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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.
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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.
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