SOFAZ gets 2.07% rise in assets
SOFAZ told APA-Economics that the budget revenues for the period of January-March, 2014 reached 3,005.0 million manats, while budget expenditures constituted 2,443.3 million manats.
Revenue of 3,006.8 mln. manats was received from the implementation of oil and gas agreements, including 2,991.2 mln. manats from the sale of profit oil and gas, 2.3 mln. manats as transit payments, 13.3 mln. manats as bonus payments.
As per January-March 2014 budget of the Fund, 2,342.6 mln. manats were transferred to the state budget. The expenditures in the amount of 70.1 mln. manats were directed to financing the improvement of social-economic condition of refugees and internally displaced persons, 5.6 mln. manats were used for financing the reconstruction of the Samur-Absheron irrigation system. 5.1 mln. manats were directed to financing Baku-Tbilisi-Kars railway construction and 3.0 mln. manats were directed to financing "The state program on the education of Azerbaijan youth abroad in the years 2007-2015". The Fund's administrative and operational expenses for the reporting period were 16.9 mln. manats.
During the first quarter of the year, the value of SOFAZ’s equity portfolio decreased due to events which took place in Ukraine. Despite the income from different investments the losses from managing assets of the Fund for January-March 2014 amounted to 1.8 mln. manats. In the following months as a result of stabilization and growth in the prices of equities of Russian companies, revenues from managing assets of the Fund for the period January - May 15, 2014 totaled to 87.8 million manats.
The Fund's extra-budgetary revenues related to the revaluation of foreign exchange totalled 10.1 million manats. SOFAZ’s extra-budgetary revenues related to price changes of gold amounted to 60.8 million manats while extra-budgetary expenses related to price changes of USD, EURO, GBP and other currencies totalled 50.7 million manats.
The assets of SOFAZ as of April 1, 2014 has grown by 2.07% compared to the beginning of 2014 (USD 35,877.5 mln.) and stood at USD 36,618.4 mln.
Starting from the first quarter of 2012 the Oil Fund has begun purchase of gold and the amount of purchased gold as of April 1, 2014 was 30 tons 175 kg (970,146 ounces).
Related news releases
25.04.2018USD rate for tomorrow announced
25.04.2018Unicapital heads brokers ranking for March
25.04.2018BSE turnover increases
25.04.2018Bank Respublika ends Q1 on profit
25.04.2018Compulsory Insurance Bureau ends 2017 on profit
25.04.2018Yapi Kredi Bank Azerbaijan ends Q1 on profit
24.04.2018Rabitabank sees 33% rise in assets
24.04.2018Operations in securities market amount to AZN 6.2B
24.04.2018Azerbaijan-based insurers ranking for short-term liabilities growth rate
24.04.2018USD rate for tomorrow announced
24.04.2018Azerbaijan-based insurers ranking for long-term liabilities growth rate
24.04.2018Azerbaijan-based insurers ranking for long-term assets growth rate
24.04.2018Azerbaijan-based insurers ranking for short-term assets growth rate
24.04.2018Muganbank ends Q1 on loss
24.04.2018AFB Bank ends Q1 on profit
24.04.2018Azerbaijan-based insurers ranking for liabilities growth rate
24.04.2018Bank BTB gets 21% growth in assets
24.04.2018Azerbaijan-based insurers ranking for total capital growth rate
24.04.2018Azerbaijan-based insurers ranking for assets growth rate
24.04.2018ADB to allocate $900M to Azerbaijan in 2018-20
23.04.2018Safar Mehdiyev appointed Chairman of State Customs Committee
23.04.2018Gilan Holding conducts assessment of HR employees
23.04.2018Bakcell fulfills dreams of young entrepreneurs
23.04.2018Central Bank announces result of today’s auction
23.04.2018Azerbaijan’s new government expected to continue important reforms to ensure sustainable development – World Bank
23.04.2018World Bank upgrades its economic growth projections for Azerbaijan
23.04.2018President Ilham Aliyev receives Russian minister of economic development
20.04.2018State Service for Antimonopoly Policy and Consumer Protection removed subordination of Azerbaijan’s Economy Ministry
20.04.2018Azerbaijan’s State Committee on Standardization, Metrology and Patents liquidated
20.04.2018Azerbaijan-based insurers ranking for short-term liablities
20.04.2018Azer-Turk Bank ends Q1 on profit
20.04.2018Azerbaijan-based insurers ranking for long-term liabilities
20.04.2018Azerbaijan-based insurers ranking for short-term assets
20.04.2018Azerbaijan-based insurers ranking for long-term assets
20.04.2018Central Bank of Azerbaijan to attract AZN 350M
20.04.2018Azerbaijan-based insurers ranking for expenditures
20.04.2018Azerbaijan-based insurers ranking for revenues
20.04.2018Azerbaijan-based insurers ranking for profit
20.04.2018Azerbaijan-based insurers ranking for authorized capital
20.04.2018Azerbaijan-based insurers ranking for total capital
20.05.2014Budget organizations’ debts for utility and communication services make AZN 8 mln
21.05.2014Azerbaijan-based banks ranking for profit- 21.05.2014Meeting of Azerbaijan-Switzerland Joint Commission to be held
- 19.05.2014Azerbaijan-based banks ranking for total capital
- 19.05.2014Malena Mard: “The EU and Azerbaijan are being negotiating on the association agreement”
- 19.05.2014Azerbaijan-based banks ranking for authorized capital
OSCE Secretary-General congratulates Ilham Aliyev
Residential complex for employees of Presidential Administration to be launched in autumn of 2019
New chairman of State Committee on Work with Diaspora addresses Azerbaijanis around the world
Ilham Aliyev: Turkey-Azerbaijan joint projects are of great economic and political significance
Ilham Aliyev: Azerbaijan-Turkey brotherhood, friendship has great future
