State Oil Fund of Azerbaijan offers its budget 2010 with surplus of AZN 534.7 million
Baku, Fineko/abc.az. The Supervisory Board of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) has considered and submitted for approval of the Azerbaijani President the Fund’s draft budget for 2010.
SOFAZ reports that its forecast on budget revenues for next year makes up AZN 5.96 bn and expenditures AZN 5.428 bn. Funds operating expenditures are restricted with AZN 33.4 million.
The forecast says that SOFAZ budget 2010 will be two-fold less than the budget for 2009 that is linked with reduction of oil export oil value from $70 to $45 per barrel. Nevertheless, the Fund expects budget net surplus of AZN 534.695 million.
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