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SOFAZ revenues forecasted to increase by 2.4 times

SOFAZ revenues forecasted to increase by 2.4 times

29 September 2016 11:09 (UTC +04:00)

According to the Ministry of Finance, of this AZN 7,550,700,000 or 90.2% will be receipts from profit oil and gas sale.

Expenditures will stand at AZN 6,951,300,000, down AZN 3,685,000,000 or 34.6% in comparison with 2016.

Of this, AZN 6.1 billion or 87.8% will be transfers to the state budget. AZN 822 million or 11.8% will be spent directed to financing the several infrastructural projects (improvement of social-economic condition of refugees and internally displaced persons, reconstruction of the Samur-Absheron irrigation system, Baku-Tbilisi-Kars railway construction and the “Southern Gas Corridor” project), AZN 29.3 million or 0.4% to "The state program on the education of Azerbaijan youth abroad in the years 2007-2015".

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