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Azerbaijani President issues order on execution of SOFAZ 2017 budget

17 July 2018 16:56 (UTC +04:00)

Azerbaijani President has issued an order on execution of SOFAZ budget for 2017.

According to APA, the execution of 2017 budget was approved as following with the revenues of AZN 12,137,503,300 and expenditures of AZN 11,015,537,900, which were relevantly fulfilled by 112.2% and 72.3% against the forecast:

â„–	Indicators	Thousand manats
Revenues: (total)		12,137,503.3
	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)	11,029,988.9
2.	Acreage fees paid by foreign investors for use of the contract areas for the development of hydrocarbon resources	3,605.5
3.	Revenues from transportation of oil and gas through the territory of the Republic of Azerbaijan	17,914.9
4.	Bonuses paid by investors to SOCAR or authorized state body for signing or execution of oil and gas contracts	2,407.6
5.	Revenues from SOFAZ's asset management	1,083,586.4
Expenditures: (total)		11,015,537.9
	Including:
1.	Financing the improvement of social condition of refugees and IDPs	104,999.9
2.	Transfer to 2017 State Budget of the Republic of Azerbaijan	6,100,000.0
3.	Financing the reconstruction of the Samur-Absheron irrigation system	69,997.2
4.	Financing Baku-Tbilisi-Kars railway project	20,557.4
5.	Financing the "State Programme on the Education of Azerbaijani Youth abroad in the years 2007-2015"	17,009.7
6.	Transfers to the Central Bank of Azerbaijan in order to ensure macroeconomic stability	3,949,484.8
7.	Financing the share of the Republic of Azerbaijan in STAR oil refinery in Turkey	735,422.2
8.	Administrative expenses of the State Oil Fund of the Republic of Azerbaijan	18,066.7