SOFAZ assets exceed $32 bln
Azerbaijan, Baku, April 19 / Trend A.Badalova /
The assets of of the State Oil Fund of Azerbaijan (SOFAZ) as at April 1, 2012 grew by 8.6 percent compared to the beginning of 2012 ($29 800.0 million) and stood at $32 359.4 million, SOFAZ reported on Thursday.
Budget revenues of SOFAZ reached 3 586.9 million manats in January-March, 2012, while budget expenditures constituted 1 919.9 million mantas.
Revenue of 3 352.4 million manats was received from implementation of oil and gas agreements, including 3 349.4 million manats from the sale of profit oil and gas, 1.3 million manats - as transit payments, 1.6 million manats - as bonus payments and 0.1 million manats from sale of assets received from foreign companies.
The revenues from managing assets of the Fund amounted to 234.5 million mantas for January-March, 2012. The Fund's extra-budgetary revenues related to the revaluation of foreign exchange totalled 336.1 million manats.
As per 2012 budget of the Fund, 1 839.8 million manats were transferred to the state budget, SOFAZ said.
The expenditures at 48.7 million manats were directed to financing of improvement of social condition of refugees and internally displaced persons, 20.8 million manats were used for financing the reconstruction of the Samur-Absheron irrigation system. 3.7 million manats were directed to financing "The state program on the education of Azerbaijan youth abroad in the years 2007-2015", and 4.8 million manats were directed to financing Baku-Tbilisi-Kars railway.
The Fund's administrative and operational expenses in this period were 2.1 million manats.
Starting from the first quarter of 2012 the Oil Fund has begun purchase of gold and the amount of gold in this period were 2 tons 804 kg (90 143 ounces).