SOFAZ announces 2016 revenues and expenditures

SOFAZ announces 2016 revenues and expenditures
# 14 September 2015 15:51 (UTC +04:00)

Baku. Yegane Lachinzade - APA-Economics. State Oil Fund of Azerbaijan’s revenues are forecasted to make AZN 6,711.6 mln, down AZN 3,534.1 mln or 34.5% from 2015.

According to Finance Ministry, the expenditures will make AZN 8,200.0 mln, down AZN 4,104.8 mln or 33.4% from 2015.

AZN 6,000,000 or 73.2% of revenues are planned to be transferred to the state budget, AZN 2,150.5 mln or 26.2% - to funding of several infrastructural projects, AZN 49.5 mln or 0.6% to State Programs on “Study of Azerbaijani youth abroad for 2007-2015”, “Study of young professionals abroad for 2016-2020” and “Improvement of Teaching ability in high schools and promotion of scientific researches”.

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THE OPERATION IS BEING PERFORMED