Azerbaijan, Baku, Dec. 17 / Trend /
A meeting of the Supervisory Board of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) held on Dec. 16 discussed the SOFAZ draft budget for 2011. The Supervisory Board recommended the Fund's 2011 draft budget, including the major directions of its investment policy, and its draft annual operating expenditures for the approval by President of the Republic of Azerbaijan, SOFAZ reported.
The Board approved the Fund's 2011 budget revenues at 9 132 941.0thousand manats, its expenditures at 6 886 155.4 thousand manats and the Fund's operating expenditures at 57 494.3thousand manats.
The meeting was chaired by Azerbaijani Prime Minister and Chairman of the Supervisory Board Artur Rasizade.
The official exchange rate is 0.7987 manat to $1 Dec. 17.