NovruzMammadovappointed chairman of the Supervisory Board of the Oil Fund

Baku/06.07.18/Turan: Prime Minister NovruzMammadov was elected acting Chairman of the Supervisory Board of the State Oil Fund (SOF) of Azerbaijan. This decision was made at a meeting of the Supervisory Board of the Oil Fund on July 6.According to the report of the National Assembly, today's meeting heard the annual report on the activities of the State Oil Fund for 2017, the results of the audit of financial activities, as well as the implementation of the budget for 2017 and changes to the budget of 2018 were discussed. The Supervisory Board found satisfactory he report presented by the Executive Director.

Following the meeting, it was decided to submit to the President of the country the draft budget execution for 2017 and submit for approval the changes to the budget for 2018.

The Supervisory Board of the SOF consists of six members, headed by the Prime Minister. Last month, changes were made to the state budget, according to which transfers from the Oil Fund to the budget are expected to be 9 billion 216 million manats. After making changes, this figure grew to 10 billion 966 million.-0-