Budget revenues of SOFAZ for the period of Jan-June reaches AZN 10 698.3 mln

Budget revenues of SOFAZ for the period of Jan-June reaches AZN 10 698.3 mln
# 02 August 2019 11:28 (UTC +04:00)

Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-June, 2019 reached 10 698.3 million manats, while budget expenditures constituted 4 499.4 million manats, SOFAZ told APA.

Revenue of 8 557.1 mln. manats was received from implementation of oil and gas agreements, including 7 780.7 mln. manats from the sale of profit oil and gas, 766.4 mln. manats as bonus payments, 8.9 mln. manats as transit payments and 1.1 mln. manats as acreage fee.

The revenues from managing SOFAZ’s assets for January-June 2019 amounted to 2 141.2 mln. manats.

SOFAZ’s extra-budgetary revenues related to the revaluation of foreign exchange totaled 513.1 mln. manats.

As per 2019 budget of the Fund, 4 413.0 mln. manats were transferred to the state budget. The expenditure in the amount of 74.9 mln. manats were directed to financing the improvement of social-economic condition of refugees and internally displaced persons. SOFAZ’s administrative and operational expenses for the reporting period were 11.5 mln. manats.

The assets of SOFAZ as of June 30, 2019 have increased by 10.25% compared to the beginning of 2019 (USD 38 515.2 mln.) and stood at USD 42 463.7 mln.

The increase was mainly due to SOFAZ inflows from the sale of profitable oil and gas, as well as, from the investment returns. During the current period each asset class positively contributed to the overall investment portfolio return, while the equity investments returns were significantly higher compared to other assets classes. Thus, despite the negative return (-6.6%) on the equity sub-portfolio for the last year, the return number for the first six month of the current year amounted to 13.1%.

1 2 3 4 5 İDMAN XƏBƏR
#
#

THE OPERATION IS BEING PERFORMED