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