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Azerbaijani President issues order on execution of SOFAZ 2016 budget

01 May 2017 17:00 (UTC +04:00)

Baku – APA-Economics. Azerbaijani President has issued an order on execution of SOFAZ budget for 2016.

According to APA-Economics, the execution of 2016 budget was approved as following with the revenues of AZN 9,410,180,000 and expenditures of AZN 9,022,059,000, which were relevantly fulfilled by 205.5% and 84.6% against the forecast:

â„–	Indicators	Thousand manats
Revenues: (total)		9,410,180.0
	Including:
1.	Proceeds from sales of the Republic of Azerbaijan's share of hydrocarbons (deducts the costs of hydrocarbons transportation, banking expenses, customs clearances, independent surveyor, marketing and insurance costs, and also exclusive of the revenues from the SOCAR's share in the projects of which it is an investor, shareholder or partner)	8,320,045.7
2.	Acreage fees paid by foreign investors for use of the contract areas for the development of hydrocarbon resources	3,267.0
3.	Revenues from transportation of oil and gas through the territory of the Republic of Azerbaijan	17,953.6
4.	Bonuses paid by investors to SOCAR or authorized state body for signing or execution of oil and gas contracts	82.1
5.	Revenues from SOFAZ's asset management	1,068,831.6
Expenditures: (total)		9,022,059.0
	including:
1.	Financing the improvement of social condition of refugees and IDPs	89,994.9
2.	Transfer to 2016 State Budget of the Republic of Azerbaijan	7,615,000.0
3.	Financing the reconstruction of the Samur-Absheron irrigation system	69,998.1
4.	Financing "Baku-Tbilisi-Kars">Baku-Tbilisi-Kars railway" project	66,174.5
5.	Financing the "State Programme on the Education of Azerbaijani Youth abroad in the years 2007-2015"	31,606.7
6.	Financing the share of the Republic of Azerbaijan in STAR oil refinery in Turkey	331,776.0
7.	Financing the share of the Republic of Azerbaijan in Southern Gas Corridor projects	797,427.6
8.	Administrative expenses of the State Oil Fund of the Republic of Azerbaijan	20,081.2