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Total revenues of SOFAZ hit $66.282 bn

30 March 2012 08:12 (UTC +04:00)

$63,320.5 mln or 95.5% of this fund fell on share of incomes connected with realization of oil and gas agreements, $1,337.0 mln or 2% - incomes, got from management of SOFAZâ€™s funds, $8,375.7 mln or 2.5% - revenues from other incomes. As of December 31, 2011, the volume of Fundâ€™s assets made $ 29.800 bn.

â€œDuring this period, expenses of SOFAZ made AZN 28,342.2 mln ($35,092.4 mln). AZN 25.180 bn ($31,300.8 mln) or 89% of these funds fell on share of transfer payments to the state budget. Transfers to the budget are realized since 2003.

95% of Fundâ€™s investments are placed in dollar, euro and pound sterling, the rest 5% - in assets denominated in other currencies. One part of funds kept at the Fund is managed by foreign managers. As of December 31, 2011, the total volume of funds under management of foreign managers made $267 mln, which equals 0.95 of Fundâ€™s total assets.

At the same time, SOFAZ directed AZN 298 mln to construction of Baku-Tbilisi-Jeyhan pipe, AZN 90 mln to formation of authorized capital of Azerbaijan Investment company, AZN 222.4 mln â€“ to Baku-Tbilisi-Kars railway, AZN 779.6 mln to â€“Oguz-Gabala-Baku water pipe project, AZN 857.8 mln to â€“ financing of measures for improvement of social conditions of refugees and IDPs, AZN 695.5 mln to â€“ financing of measures connected with â€œContinuation of construction of Takhtakorpu water reservoir, Valvalachay-Takhtakorpu and Takhtakorpu-Jeyranbatan channels of Samur-Absheron Irrigation Systemâ€, considered in the â€œState Program on reliable provision with food products of Azerbaijani population in 2008-2015â€, AZN 34.8 mln to â€“ financing of â€œState Program on education of Azerbaijani youth in foreign countries in 2007-2015â€.

Note that, SOFAZ was founded on December 29, 1999.