Azerbaijan, Baku, Feb. 13 / Trend , E.Ismayilov/
The State Oil Fund of Azerbaijan (SOFAZ) commenced assessments of transfers to the state budget of Azerbaijan, SOFAZ Executive Director Shahmar Movsumov said on Feb. 13. The first tranche hit 800 million manat.
"We have already commenced the realization of transfers. Since early of 2009 roughly 800 million manat were transferred to the budget. This year SOFAZ will transfer 4.915 billion manat to the state budget," Movsumov said.
The SOFAZ will ratify its budget the next week. "The documents have already been presented to the presidential administration for ratification," Movsumov added.
The SOFAZ's assets increased 4.3 times and hit 8.986 million manat (11.219.2 million dollar) in Jan. 1.
As for 2008 the Fund's incomes were 11.864 billion and expenditure -4. 291 billion manat.
Fund's incomes from oil contracts were 11.633 trillion manat, including sales of lucrative oil - 11.527 billion manat from acre payments - 3.6 million manat, receiving dividends on the Baku-Tbilisi-Ceyhan pipeline project - 97.2 million manat, from assets by foreign investors - 2.7 million manat, bonus payments - 2.8 million manat and transit fee - 0.2 million manat.
The SOFAZ allocated 145 million manat for measures to improve the social state of refugees and internally displaced people. SOFAZ invested for reconstruction of the Samur-Absheron irrigation system and Ofuz-Gabala water system to Baku, 211.8 and 120.6 million manat respectively.
The SOFAZ also allocated 2.3 million manat to finance the state program on training Azerbaijani youths abroad 2007-2012. 5.3 million manat was invested in the construction of the Baku-Tbilisi-Kars railway.
The Fund's transfers to the state budget hit 3.800 billion manat.
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