Azerbaijan, Baku / Trend / On 28 June, Azerbaijani President Ilham Aliyev issued a decree on the fulfillment of the State Oil Fund of Azerbaijan (SOFAR) budget for 2006.
The fulfillment of the budget was confirmed with an income of AZN 985,938,700 and expenses of AZN 981,375,900. The Fund's income for 2006 rose by 15.4% and expenses were reduced by 4.4%.
SOFAR's income from the sale of hydrocarbons comprised AZN 896,258, whereas the difference in price between export and domestic oil was AZN 10,972,700, bonuses AZN 1.797.7mln, payment for use of territory under oil contracts AZN 12.716.3mln, and per acre payments AZN 7,570,900. Incomes from the placement of the Fund's assets constituted AZN 55,953,300.
The Fund's major expenses were comprised of transferences to the public budget in the amount of AZN 585mln, expenses for construction of the Oguz-Gabala-Baku water pipeline - AZN 82,748,700, fulfillment of the country's liabilities over the construction of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline AZN 75,409,100, formation of statutory capital of the Azerbaijani Investment Company AZN 90mln, expenses for improving social conditions for refugees and internally displaced people AZN 110,031,500, and expenses for construction of the Samur-Absheron channel AZN 37mln. The Fund's administrative expenses comprise AZN 1,186,600.
