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State Oil Fund of Azerbaijanâ€™s 2009 budget changed

08 October 2009 09:47 (UTC +04:00)

Baku. Vahab Rzayev - APA-ECONOMICS. Azerbaijani President Ilham Aliyev has signed a decree to make amendments to the budget for 2009 of the State Oil Fund of Azerbaijan (SOFAZ).

The Presidentâ€™s Press Service said the measure aimed to ensure the timely performance of SOFAZ-funded projects for the improvement of social condition of refugees and internally displaced persons, the construction of the Oghuz-Gabala-Baku water supply system and the reconstruction of the Samur-Absheron irrigation system.

Under the decree, the amount of planned funds was increased to AZN 90 million from AZN 80 million for the improvement of social condition of refugees and internally displaced persons, from AZN 100 million to AZN 20 million for the construction of the Oghuz-Gabala-Baku water supply system, and from AZN 100 million to AZN 130 million for the reconstruction of the Samur-Absheron irrigation system

However, the planned funds for the construction of the Georgian section of Baku-Tbilisi-Kars Rail Link was cut from AZN 80 million to AZN 30 million.