Chamber of Accounts: SOFAZ’s funds reach AZN 57.5B

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28 July 2017

In the six months of 2017, SOFAZ’s funds increased $1,643,900,000 (including off-budget revenues of $1,288,800,000) or 4.96% to $34,790,900,000, said Chamber of Accounts in its report about execution of SOFAZ’s revenues and expenditures.

 

According to the report, in the reporting period, the revenues stood at $3,504,700,000 or AZN 6,127,200,000, making up 73.2% of forecast (AZN 8,370,600,000), expenditures – at AZN 5,533,800,000 or $3,149,600,000, making up 38.2% of the forecast (AZN 14,483,900,000).

 

USD-denominated off-budget revenues made up $1,288,800,000. No off-budget expenditures were incurred in the reporting period.

 

The YTM on the investment portfolio was 1.12%, up 0.62percentage point from previous year.  

 

The revenues were executed at 73.2% because the average weighted sale price of profit oil made up $53 during the reporting period.

 

Generally, as of 01.07.2017, the manat-denominated funds made up AZN 57,474,200,000.

 

The expenditures were executed at 38.2% because the transfers to Central Bank of Azerbaijan made up AZN 2,448,300,000, which is 32.7% less than planned amount (AZN 7.5 billion).

 

Transfers to the state budget made up AZN 2.991 billion in the six months or 49.1% of planned amount (AZ 6.1 billion). 

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THE OPERATION IS BEING PERFORMED