SOFAZ budget due to be amended

SOFAZ budget due to be amended
# 07 June 2007 14:17 (UTC +04:00)
After the parliament approves the budget outline of the State Oil Fund of Azerbaijan, the budget blueprint is expected to be changed.
Shahmar Movsumov, the Executive Director of the SOFAZ, said the amendments will result from contract shares between SOFAZ and SOCAR and financing of Baku-Tbilisi-Kars project.
He added that the SOFAZ foresees expenditures of AZ 1.1 billion for 2007. As of June 1, SOFAZ’s financial reserves stood at $1.8 billion. /APA-Economics/

Politics

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THE OPERATION IS BEING PERFORMED