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Assets of SOFAZ reach $32.2 bln

31 October 2011 12:44 (UTC +04:00)

Revenue of 11 668.4 mln manats for the period of January-September, 2011 was received from implementation of oil and gas agreements, including 11 476.3 mln manats from the sale of profit oil and gas, 101.7 mln manats from difference in price from the phase I of Shah Deniz, 66.8 mln manats from dividends on Azerbaijan’s State participation share in the Heydar Aliyev Baku-Tbilisi-Ceyhan (BTC) Main Export Pipeline, 5.5 mln manats as transit payments, 1.2 mln manats as acreage payments, 15.7 mln manats as bonus payments and 1.2 mln manats from sale of assets received from foreign companies.

The revenues from managing assets of the Fund for the reporting period amounted to 162.9 mln manats.

As per execution of 2011 Fundâ€™s budget 4 021.0 mln manats were transferred to the state budget. The expenditures in the amount of 89.2 mln manats were directed to financing of improvement of social condition of refugees and internally displaced persons, 144.5 mln manats and 10.5 mln manats were accordingly used for financing the reconstruction of the Samur-Absheron irrigation system and financing the construction of the Oghuz-Gabala-Baku water supply system. 5.9 mln manats were directed to financing "The state program on the education of Azerbaijan youth abroad in the years 2007-2015". 85.5 mln manats were directed to financing Baku-Tbilisi-Kars railway. The Fund’s administrative and operational expenses for current period were 10.1 mln manats.

The Fund’s extra-budgetary expenditures related to the revaluation of foreign exchange totalled 258.8 million manats.

The assets of SOFAZ as at October 1, 2011 has grown by 41.6 % compared to the beginning of 2011 (USD 22 766.8 mln.) and stood at USD 32 242.5 mln.