Azerbaijani State Oil Fund’s Balance on Currency-Related Crimes of Public Budget Comprises $700mln

Oil&Gas Materials 30 April 2007 21:12 (UTC +04:00)

Azerbaijan, Baku / Trend I. Khalilova / Shahmar Movsumov, the active director of the Oil Fund of Azerbaijan, stated that the rest of currency-related crimes of the Fund's budget makes up $700. The funds have remained unutilized since the beginning of 2007.

The budget surplus has not been transferred to the Fund. The performance of the 2006 budget has to be approved first of all. Only then the balance will be transferred to the Fund.

The performance of the public budget will be approved in by the parliament in May. The Ministry of Finance will continue the transference of the currency-related crimes to the Oil Fund.

In compliance with the recent decree of the Cabinet of Ministers the Ministry of Finance is enabled to implement several operations in foreign currency.