Azerbaijan, Baku, April 6 / Trend /
The revenues of the State Oil Fund of the Azerbaijani Republic (SOFAZ) will amount $11 billion as a result of average oil price $50, SOFAZ president Shahmar Movsumov said on the Public Television.
"No reduction of funds in SOFAZ is expected this year," Movsumov said.
The reduction of oil prices is leading to decrease of revenues of SOFAZ. The oil price was approved at $70 per barrel both in the 2009 Public Budget and SOFAZ. At present, there is certain stability in oil prices, Movsumov added.
SOFAZ revenues are forecasted 8.4 billion manat in the Public Budget, while expenditure is forecasted in the amount of 5.3 billion manat.
