Follow us
      AZ  |  EN  |  Home page         

 

 
SOFAZ 2012 budget approved (30/12/2011)

Ilham Aliyev, the President of the Republic of Azerbaijan signed on December 29, 2011 the Decree approving budget of the State Oil Fund of the Republic of Azerbaijan for the year 2012 including 10 697 030.6 thousand manats in revenues and  10 561 304.0 thousand manats in expenditures as followings:
To define that the incomes of the budget of the State Oil Fund of the Republic of Azerbaijan for the year 2012 are established out of the following revenues:
 
Revenues
Amount
(in thousand manats)
2.1.
Proceeds from sales of the Republic of Azerbaijan's share of hydrocarbons (exclusive of hydrocarbons' transportation costs, banking expenses, customs costs, independent surveyor, marketing and insurance costs, and also exclusive of the revenues from the SOCAR's share in the projects of which it is an investor, shareholder or partner)
10 365 432.0
2.2.
Oil and gas agreement signature and/or performance bonuses paid by investors
3 342.8
2.3.
Revenues generated from oil and gas transit over the territory of the Republic of Azerbaijan
8 137.0
2.4.
Revenues from management of SOFAZ's assets
319 218.8
2.5.
Other revenues and incomes according to legislation
900.0
 
Total
10 697 030.6
 
 
To define that the expenditures of the budget of the State Oil Fund of the Republic of Azerbaijan for the year 2012 are assigned to the following purposes:
Directions of expenditures
Amount
(in thousand manats)
3.1.
The expenditures for financing of projects concerning solution of the social and settlement problems of the refugees and internally displaced persons
110 000.0
3.2.
Transfer to 2012 State Budget of the Republic of Azerbaijan
9 905 000.0
3.3.
Financing the reconstruction of the Samur-Absheron irrigation system
200 000.0
3.4.
Financing "Baku-Tbilisi-Kars railway" project
252 484.0
3.5.
Financing "State Programm on education of Azerbaijan youth in foreign countries in 2007-2015"
20 000.0
3.6.
Oil Fund's operating expenditures
73 820.0
Total
10 561 304.0
 

Approval of the Budget followed the procedures laid out in the Funds Statutory Regulations and Budgetary Regulations.