SOFAZ revenue and expenditure Statement for January-December 2018 -

SOFAZ revenue and expenditure Statement for January-December 2018

Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-December, 2018 reached 17 614.1 million manats, while budget expenditures constituted 11 455.6 million manats.

Revenue of 17 433.0 mln. manats was received from implementation of oil and gas agreements, including 16 645.6 mln. manats from the sale of profit oil and gas, 765.2 mln. manats as bonus payments, 4.1 mln. manats as acreage payments and 18.1 mln. manats as transit payments.

The revenues from managing assets of SOFAZ for January-December 2018 amounted to 181.1 mln. manats.

As per 2018 budget of SOFAZ, 10 959.0 mln. manats were transferred to the state budget. The expenditures in the amount of 200.0 mln. manats were directed to financing the improvement of social-economic condition of refugees and internally displaced persons, 90.0 mln. manats were used for financing the reconstruction of the Samur-Absheron irrigation system. 176.1 mln. manats were directed to financing Baku-Tbilisi-Kars railway construction and 7.2 mln. manats were directed to financing "The state program on the education of Azerbaijani youth abroad in the years 2007-2015". SOFAZ's administrative and operational expenses for the reporting period were 23.3 mln. manats.

The SOFAZ's extra-budgetary expenditures related to the revaluation of foreign exchange totaled 1 557.3 mln. manats.

The assets of SOFAZ as of January 1, 2019 have increased by 7.56% compared to the beginning of 2018 (USD 35 806.5 mln.) and stood at USD 38 515.2 mln. The increase was mainly due to SOFAZ budget revenues and asset management activity. 

 
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