SOFAZ forecasts over $13 bln revenues for 2012
Azerbaijan, Baku, Nov.2 / Trend, E.Ismayilov /
The revenues of the State Oil Fund of Azerbaijan (SOFAZ) for 2012 are forecasted at 10.6 billion manat, with expenditures of 10.4 billion manat, SOFAZ head Shahmar Movsumov told journalists on Wednesday.
"Transfers to the state budget are forecasted at 9.9 billion manat in 2012," Movsumov said.
He stressed that the budget forecasts for next year are calculated at $80 per barrel of oil.
SOFAZ revenues for 2011 are forecasted at 12.796.172 billion manat, at 9.939.985 billion manat, transfers to the state budget at 9.203.2 billion manat.
SOFAZ revenues totaled 11.831.4 billion manat in January-September, with expenditures reaching 4.366.7 billion manat. Transfers to the state budget hit 4.21 billion manat.
SOFAZ assets, increasing by 41.6 percent as of Oct.1, compared to early 2011 ($22.766.8 billion) amounted to $32.242.5 billion.