Azerbaijan, Baku, Nov. 4 / Trend E. Ismailov /
The revenues of the State Oil Fund of the Azerbaijan Republic (SOFAZ) reached 9.578 million manat in January-September with expenditures of 3.944 million manat.
The bulk of the proceeds fell to oil and gas sales. Income from oil contracts amounted to 9.458 million manat, including oil and gas profit sales of 9.346 million manat.
SOFAZ received 5.4 million manat from transit payments. Dividends from the operation of the Baku-Tbilisi-Ceyhan oil pipeline during this period amounted to 105 million manat. Acre payments in January-September amounted to 1.2 million manat.
During the reporting period, income from assets transferred by foreign investors reached 1.1 million manat. SOFAZ received 119.5 million manat from managing the funds received in January-September.
Expenditures of 80 million manat were directed to financing the improvement of social refugee and IDP conditions, and 109.6 million manat and 112.1 million manat, respectively, for financing the reconstruction of the Samur-Absheron Irrigation System and the construction of the Oghuz-Gabala-Baku Water Supply System.
Transfers to state budget hit 3.625 million manat. Some 3.8 million manat were spent on Azerbaijani student education abroad within a state program for 2007-2015. Also, 2.9 million manat were spent to finance the construction of the new Baku-Tbilisi-Kars Railway.
The fund's managing expenditures amounted to 11.2 million manat. Fund expenses from the difference in the exchange rate reached 164.9 million manat.
SOFAZ assets as of Oct. 1 have grown by 45.8 percent compared to early 2010 to 21.720 billion manat.