Azerbaijan, Baku, Jan.27 / Trend , E.Ismayilov /
The Azerbaijani government has refused to finance state programs and actions related to ecological issues and alternative energy sources development at the expense of the State Oil Fund of the Azerbaijan Republic (SOFAZ) in 2010, SOFAZ Executive Director Shahmar Movsumov said at a press conference dedicated to the results of 2009. Plans include spending about 20 million manat from the SOFAZ budget for these actions.
"Financing these actions is provided at the expense of state budget funds. Such a decision is related to the fact that not to pad the budget of the SOFAZ and spend its funds for large projects," Movsumov said.
SOFAR revenues were approved at 5.96 billion manat and expenditures at 5,43 billion manat in 2010.
SOFAZ budget revenues for 2010 net revenues received by Azerbaijan from oil sales are envisaged in the amount of 5,56 billion manat, dividends falling on the country in connection with the sale of oil and gas projects (Baku-Tbilisi-Ceyhan project) - 1,558 million manat, the revenues from the placement and management the Fund's assets - 241,94 million manat, and other revenues - 0.9 million manat.
SOFAZ expenditure budget for 2010 envisages financing of actions to improve the social conditions of refugees and İDPs in the amount of 80 million manat, transfers to the Azerbaijani public budget - 4.915 billion manat in 2010, financing of the construction project of water supply system from the Oguz-Gabala zone of Azerbaijan to Baku - 200 million manat, financing the reconstruction of the Samur-Absheron irrigation system - 110 million manat, financing the construction of the Baku-Tbilisi-Kars railway - 80 million manat, the financing of state programs for study of the Azerbaijani youth abroad in 2007-2015 - 10 million manat.
The expenditures for the Fund management have been approved in the amount of of 33.43 million manat.
The average amount of forecast investment portfolio of SOFAZ for 2010 amounts to 10.6 billion manat.
As of Jan.1 2010, SOFAZ's assets increasing by 32.8 percent amount to 11.966 billion manat ($14.900 nillion) compared to early 2010
On Jan. 26, the official exchange rate is 0.8034 manat to $1.