Azerbaijan’s President Ilham Aliyev has signed a decree on March 18 to make amendments to the 2016 budget of the State Oil Fund of Azerbaijan (SOFAZ).
Under the amendments, SOFAZ’s revenues and expenditures for 2016 were set at 4,578,474,600 manats and 10,668,933,700 manats, respectively.
The revenues from the sale of Azerbaijan’s profitable oil and gas are forecasted at 3,875,682,400 manats, revenues from the oil and gas transit through Azerbaijan’s territory at 19.278 million manats.
Azerbaijan
18 March 2016
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