AZERBAIJAN PRESIDENT APPROVES STATE OIL FUND'S BUDGET FOR 2009
On Feb. 26 Azerbaijan's President Ilham Aliyev signed an order to approve 2009budget of the State Oil Fund of Azerbaijan Republic.
Upon the order, the State Oil Fund's incomes for 2009 will total 8,361,016,300 manat but expenditures
5,319,534,900 manat.
The State Oil Fund's incomes for 2009 shall be formed at the expense of following profits:
Net profit from sale of hydrocarbon fell on the Azerbaijani Republic (except expenditures for hydrocarbon transportation, bank and customs registration, independent control, marketing and insurance, except incomes fell on investments or participation of the State Oil Company of the Azerbaijani Republic in the projects as the investor, the shareholder and partner) (7,992,300 manat); dividends fell on the Azerbaijani Republic on sale of oil and gas projects (upon BTC project) (150,784 manat); incomes from oil and gas transportation via Azerbaijani territory (5,600 manat); incomes from managing of the State Oil Fund's means (211,432,300 manat); other incomes and earnings (900,000 manat).
The State Oil Fund's expenditures for 2009 will be allocated for the following purposes:
Financing of some social life actions and placing of refugees and internally displaced people (80,000 manat); transfer to Azerbaijan's public budget for 2009 (4,915,000 manat); financing of the project on construction of water pipeline from Oguz-Gabala zone to Baku (100,000 manat); financing of the project to restore Samur-Apsheron irrigation system (110,000 manat); financing of the project of new railroad Baku-Tbilisi-Kars (80,000 manat); financing of the state program on Azerbaijani youth's education abroad over 2007-2015 (10,000 manat); in connection with the State Oil Fund Department (24,534,900 manat).
AZERBAIJANI PRESIDENT ISSUES DECREE ON MEASURES ON STATE OIL FUND 2009 BUDGET
Azerbaijani President Ilham Aliyev issued a decree on measures due to implementation of the 2009 budget of the State Oil Fund of Azerbaijan, the Azertaj information agency reported.
According to June 19, 2001 presidential order on Regulations of preserving, placing and managing funds of the State Oil Fund of Azerbaijan Republic, Sept. 12, 2001 order 579 on Regulations of devising and implementing annual program of incomes and expenditure (budget) of the State Oil Fund of Azerbaijan Republic and 2009 State Oil Fund of Azerbaijan Republic, were approved Key directions (program) of spending the funds of the State Oil Fund of Azerbaijan Republic for 2009 and estimate of expenditure on management of the 2009 State Oil Fund of Azerbaijan Republic.
Solution of issues following the decree was instructed to State Oil Fund Executive Director.