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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Azerbaijan State Oil Fund budget for 2012 approved with revenue surplus of 1.3pct

Posted on 03 January 2012

The budget of the State Oil Fund of Azerbaijan (SOFAZ) for 2012 was approved by a decree of President Ilham Aliyev on 29 December. Under the decree, SOFAZ budget revenues in 2012 will amount to AZN 10.697 bn and expenditures AZN 10.56 bn.
As a result, the SOFAZ budget surplus is expected at AZN 135.726 million or 1.27% of its expected revenues. The budget was passed with oil export price forecast at $80 per barrel………………………………………..Full Article: Source


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