Bank Of Baku

FinMin Samir Sharifov: “Azerbaijan’s state budget for 2011 may be reviewed”

FinMin Samir Sharifov: “Azerbaijan’s state budget for 2011 may be reviewed”
# 25 February 2011 11:43 (UTC +04:00)
According to him, no problem was observed in the fulfillment of budget: “But, we don’t exclude the review of state budget for 2011 due to rising of oil prices”.

Speaking about the SOFAZ’s transfer to budget Samir Sharifov said that, the income in the state budget came from oil sector are transferred as profit tax of SOCAR and Azerbaijan International Operation Company: “We don’t observe the rise in oil production. That’s why we don’t expect significance growth in SOCAR’s transfers”.

He also noted that, there is certain sharing in the consortium and these companies get 20-25% of profit oil: “Most of budget incomes came from SOFAZ”.
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THE OPERATION IS BEING PERFORMED