The incomes to the State Oil Fund of Azerbaijan (SOFAZ) in 2007 will amount to AZN 1,55 bln, an increase of 82,1% as compared with the current year, the Finance Minister of Azerbaijan Samir Sharifov told on November 3 at the joint meeting of the parliamentary commissions dedicated to the consideration of the budget forecasts for 2007, Trend reports.
The expenditures of the Fund is expected to total AZN 969,7 mln, a decrease of 5,1%. Surplus of the fund will amount to AZN 560 mln. It is planned to direct AZN 384,7 mln from SOFAZ towards improving the social conditions of the refugees and internally displaced persons, construction of Oguz-Gabala water pipe and reconstruction of Samur-Absheron canal. The transfers to the state budget are estimated at AZN 585 mln.
SOFAZ is expected to receive AZN 17,2 mln from bonus payments, AZN 5,56 mln from per acre revenues, AZN 33,3 mln from differences of oil sale and AZN 55 mln from the management of the finances of the Fund.