Azerbaijan, Baku, Oct. 10 /Trend E. Aliyev/
Surplus of Azerbaijani State Oil Fund's (SOFAZ) budget, forecasted for 2014, will amount to 335.1 million manats, the drafts of Azerbaijan's state and consolidated budgets for 2014, released by Azerbaijani Finance Ministry said.
SOFAZ's revenues are forecasted at 11.63 billion manats, and expenses at 11.29 billion manats.
SOFAZ's expenses decreased by 17 per cent (or 2.3 billion manats) compared to the figures for 2013, and grew up by 18.2 per cent (or 1.7 billion manats) against the executed indicators for 2012.
Alongside with this the SOFAZ's budget for 2013 was projected with a deficit in the amount of 1.78 billion manats, with expected revenues of 11.82 billion manats and expenditures at 13.6 billion manats.
SOFAZ's revenues in 2012 approved by the order of Azerbaijani President were executed at the level of 13.67 billion manats, and expenses were executed at 10.57 billion manats.
Budget forecasts for the next year are formed on the basis of oil price at $100 per barrel, as in 2013.
SOFAZ was established in 1999, and its assets at that time amounted to $271 million.
SOFAZ's assets reached $34,129.4 billion in 2012.
The main goals of the State Oil Fund include: accumulation of resources and the placement of the fund's assets abroad in order to minimize negative affects on economy, the prevention of "Dutch disease" to some extent, the promotion of resource accumulation for future generations and support of current social and economic processes in Azerbaijan.
The official exchange rate for Oct. 10 is 0.7844 AZN/USD.