SOFAZ loses $570 mln in changing of exchange rates
Revenue of 3 413.0 mln. manats was received from implementation of oil and gas agreements, including 3 410.7 mln. manats from the sale of profit oil and gas, 2.1 mln. manats as transit payments, 0.2 mln. manats as bonus payments and 0.01 mln. manats from sale of assets received from foreign companies.
The revenues from managing assets of the Fund for I quarter of 2013 amounted to 110.4 mln. manats.
As per 2013 budget of the Fund, 2 840.4 mln. manats were transferred to the state budget. The expenditures in the amount of 49.3 mln. manats were directed to financing of improvement of social condition of refugees and internally displaced persons, 27.2 mln. manats were used for financing the reconstruction of the Samur-Absheron irrigation system. 1.1 mln. manats were directed to financing Baku-Tbilisi-Kars railway and 3.8 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 January-March 2013 were 7.8 mln. manats.
The Fund's extra-budgetary expenditures related to the revaluation of foreign exchange totalled 446.8 million manats.
The assets of SOFAZ as at April 1, 2013 has grown by 0.6% compared to the beginning of 2013 (USD 34 129.4 mln.) and stood at USD 34 325.7 mln.
Starting from the first quarter of 2012 the Oil Fund has begun purchase of gold and the amount of gold as of April 1, 2013 was 18 356 kg (590 146 ounces).
Related news releases
- 27.05.2017IBA's restructuring plan expected to be approved, says Moody's
- 26.05.2017USD rate for May 29 announced
- 26.05.2017Moody’s downgrades one more rating of IBA
- 26.05.2017Central Bank attracts more than AZN 649M
- 26.05.2017ADIF pays over AZN 733M in compensation to eleven closed banks’ customers
- 26.05.2017Fitch: It is not clear that planned restructuring would remove need for support for IBA.
- 25.05.2017Aydin Aliyev awarded Shohrat order
- 25.05.2017USD rate at today's auction declines
- 25.05.2017No reason for population to withdraw deposits from International Bank of Azerbaijan – deputy minister
- 25.05.2017Moody’s announces conditions for restoration of Azerbaijan’s economy
- 25.05.2017Moody’s: Azerbaijan spends funds equal to 18% of its GDP to support banking sector
- 24.05.2017Fitch Ratings downgrades IBA to Restricted Default
- 24.05.2017Azerbaijan-based banks ranking for expenditures growth rate
- 24.05.2017IBA ratings may be revised
- 23.05.2017Samir Sharifov: "Azerbaijan's IBA will be privatised but not before 2018"
- 23.05.2017SCC chairman: Israeli citizen confesses to hiding large amount of currency from control - UPDATED
- 23.05.2017IBA starts talks with foreign creditors in London
- 23.05.2017USD rate at today's auction declines
- 23.05.2017Part of AZN 10B-bonds issued for IBA’s financial health unregistered
- 23.05.2017Azerbaijan-based banks ranking for personal savings growth rate
- 23.05.2017Bitcoin value reaches record level
- 22.05.2017Azer-Turk Bank’s AZN 100M-loan transferred to Agrarcredit
- 22.05.2017Azerbaijan’s per head external debt exceeds $700
- 22.05.2017Cabinet of Ministers spends 68% of Reserve Fund to increase of IBA authorized capital
- 22.05.2017Azerbaijan-based banks ranking for total capital growth rate
- 22.05.2017Azerbaijan-based banks ranking for authorized capital growth rate
- 22.05.2017Azerbaijan-based banks ranking for loan portfolio growth rate
- 22.05.2017Azerbaijan-based banks ranking for assets growth rate
- 22.05.2017Finance Ministry pays AZN 18.2 to IBA
- 19.05.2017Azerbaijan-based banks ranking for profit
- 19.05.2017Azerbaijan-based banks ranking for non-interest expenditures
- 19.05.2017Azerbaijan-based banks ranking for non-interest incomes
- 19.05.2017Azerbaijan-based banks ranking for demand deposits
- 19.05.2017Azerbaijan-based banks ranking for term deposits
- 19.05.2017Trade turnover between Azerbaijan and Georgia increases 49%
- 18.05.2017Central Bank attracts AZN 638M in deposit auctions in Q1
- 18.05.2017Dollarization level of individuals’ deposits declined- central bank
- 18.05.2017Average daily exchange rate of USD against AZN in Q1 announced
- 18.05.2017SOFAZ sells $793M at currency auctions in Q1
- 18.05.2017USD transactions decline 33.5% - Central Bank
- 16.04.2013Joint conference of European and Arab Organizations of Supreme Audit Institutions kicks off in Baku - UPDATED - PHOTOSESSION
- 16.04.2013Azerbaijan sees 34% and 59% growth in state budget’s Q1 revenues and expenses
- 16.04.2013Consultations on new development concept for pension-insurance system of Azerbaijan approaches the end
- 15.04.2013Azerbaijan gets 10% rise in Q1 retail trade turnover
- 15.04.2013Azerbaijan sees 15% growth in Q1 budget receipts on customs agencies
- 15.04.2013State budget surplus sharply decreases in Azerbaijan