Baku. Yegane Lachinzade - APA-Economics. Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-September, 2016 reached AZN 6,618.6 million manat, while budget expenditures constituted AZN 3,823.1 million.
Revenue of AZN 5,883.8 million was received from implementation of oil and gas agreements, including AZN 5,867 million from the sale of profit oil and gas, AZN 0.1 million as bonus payments and AZN 3.3 million as transit payments.
The revenues from managing assets amounted to 734.8 mln. manat.
The Fund's extra-budgetary revenues related to the revaluation of foreign exchange totalled 2,612.3 million manat.
As per 2016 budget of the Fund, 3.260.0 mln. manat were transferred to the state budget. The expenditures in the amount of 73.8 mln. manat were directed to financing the improvement of social-economic condition of refugees and internally displaced persons, 39.1 mln. manat were used for financing the reconstruction of the Samur-Absheron irrigation system. 48.6 mln. manat were directed to financing Baku-Tbilisi-Kars railway construction and 20.8 mln. manat were directed to financing "The state program on the education of Azerbaijan youth abroad in the years 2007-2015". 241.9 mln. manat were directed to financing the “Southern Gas Corridor” project. AZN 127 million were directed to Azerbaijan’s participation in construction of STAR refinery. The Fund's administrative and operational expenses for the reporting period were 11.9 mln. manat.
The assets of SOFAZ as of October 1, 2016 have risen by 6.7% compared to the beginning of 2016 (USD 33,574.1) and stood at USD 35,822.1 mln.
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