Oil Fund transferred AZN 2.4 bn to Azerbaijan Central Bank for ensuring macroeconomic stability

20.10.2017,11:58


State Oil Fund of Azerbaijan’s (SOFAZ) assets increased by 8.67% by 1 October 2017.

According to the Fund, its assets for the reported period grew from $33.147 bn up to $36.02 bn.

SOFAZ revenues were estimated at AZN 8.79 bn and expenditures at AZN 6.91 bn.

Revenues consist mainly of earnings from the PSA contracts (AZN 7.976 bn), including AZN 7.957 bn from sale of oil and gas, AZN 2.4 million of bonuses, and AZN 12.9 million from transit fees, AZN 3.6 million of acre payments. SOFAZ extra-budgetary expenditures from exchange rate difference were estimated at AZN 582.4 million.

The revenues from SOFAZ assets management amounted to AZN 813.7 million.

The basis of expenditures was provided by transfer to State Budget for AZN 4.3 bn, implementation of projects on improvement of social situation of refugees & IDPs for AZN 82.5 million, reconstruction of irrigation system Samur-Absheron for AZN 39.5 million, realization of railway project Baku-Tbilisi-Kars for AZN 17.2 million. Another AZN 11.2 million were directed for financing of the project of Azerbaijani Youth Education Abroad for 2007-2015.

SOFAZ extra-budgetary expenditures from exchange rate difference were estimated at AZN 582.4 million.

The State Oil Fund of Azerbaijan transferred AZN 2.448 bn to the Central Bank for provision of macroeconomic stability of the country. Expenditures for the Fund’s management for Jan-Sept amounted to AZN 13 bn.

 

 

Ключевые слова: SOFAZ Central Bank assets