Azeri oil fund revenues to top $11bn in 2011
BAKU – Revenues of Azerbaijan’s State Oil Fund (SOFAR), the body that holds revenues from crude exports, are estimated at almost 9.133 billion manats (over $11.4 billion), while expenses - at over 6.886 billion manats ($8.6 billion) in 2011.
The Fund’s budget has been approved at a meeting presided by Prime Minister Artur Rasizada.
Expenses on managing the Fund stand at nearly $71.8 million next year.
SOFAR’s budget will go into effect after it is approved by the Azerbaijani President.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!