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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Azerbaijan reduces volume of transfers from State Oil Fund

Posted on 30 May 2012

The successful execution of the state budget allowed it to reduce the amount of transfers from the State Oil Fund of Azerbaijan (SOFAZ), Finance Minister Samir Sharifov said during the discussion of the draft law On State Budget Execution for 2011 in Parliament on Tuesday.
“Execution of expenditures below the target level and income above 100 per cent allowed transfers from the State Oil Fund amounting to 203 million manat below the target level,” Sharifov said………………………………………..Full Article: Source


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