Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-September, 2013 reached 10 086.0 million manats, while budget expenditures constituted 8 746.7 million manats.
Revenue of 9 774.8 mln. manats was received from implementation of oil and gas agreements, including 9 766.8 mln. manats from the sale of profit oil and gas, 1.7 mln. manats as acreage fees, 6.0 mln. manats as transit payments, 0.3 mln. manats as bonus payments and 0.06 mln. manats from the sale of assets received from foreign companies.
The revenues from managing assets of the Fund for January-September 2013 amounted to 311.2 mln. manats.
As per 2013 budget of the Fund, 8 339.9 mln. manats were transferred to the state budget. The expenditures in the amount of 249.3 mln. manats were directed to financing the improvement of social condition of refugees and internally displaced persons, 106.4 mln. manats were used for financing the reconstruction of the Samur-Absheron irrigation system. 10.9 mln. manats were directed to financing Baku-Tbilisi-Kars railway construction and 12.4 mln. manats were directed to financing "The state program on the education of Azerbaijan youth abroad in the years 2007-2015". The Fund's administrative and operational expenses for the repoting period were 27.8 mln. manats.
The Fund's extra-budgetary expenditures related to the revaluation of foreign exchange totalled 38.7 million manats.
The assets of SOFAZ as of October 1, 2013 has grown by 4.9% compared to the beginning of 2013 (USD 34 129.4 mln.) and stood at USD 35 809.2 mln.
Starting from the first quarter of 2012 the Oil Fund has begun purchase of gold and the amount of purchased gold as of October 1, 2013 was 26 tons 442 kg (850 146 ounces).
Economics
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In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
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Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
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The management of the Baku Metro often announces projects for new underground lines and stations, but official information never includes data on the cost of laying a kilometer of track or building specific metro stations. Journalists sometimes obtain details from unofficial sources, raising doubts about the reliability of such information. For instance, in 2021, an unofficial government source reported a cost of 60 million manats for planned construction of a single station on the Purple Line. This figure excluded finishing works, installation of communication lines, electronics, escalators, and elevators.
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The Milli Majlis (Parliament) of Azerbaijan began discussions on Monday regarding the draft state budget for 2025, which projects expenditures of AZN 41.368 billion.
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