SOFAZ reveals revenues, expenditure figures for 9 months of 2019
BAKU, Azerbaijan, Oct. 25
By Anastasia Savchenko - Trend:
The budget revenues of Azerbaijan’s State Oil Fund (SOFAZ) reached 14.7 billion manat ($8.7 billion) from January through September 2019, and budget expenditures made up 7.6 billion manat ($4.5 billion), Trend reports Oct. 25 referring to SOFAZ.
The revenues worth 12 billion manat ($7 billion) were received as a result of implementation of oil and gas agreements, including 11.3 billion manat ($6.6 billion) from the sale of profit oil and gas, 766.4 million manat ($450.8 million) - bonus payments, 4.7 million manat ($2.8 million) - acreage fee, and 13.4 million manat ($7.9 million) - transit payments.
Income from the fund management for the reporting period amounted to 2.6 billion manat ($1.5 billion).
During the reporting period, 7.5 billion manat ($4.4 billion) was transferred to the SOFAZ state budget.
Some 126.4 million manat ($74.3 million) was directed to financing the improvement of social-economic condition of refugees and internally displaced people.
($1= 1.7 manat on Oct. 25)