oil fund

STATE OIL FUND OF THE REPUBLIC OF AZERBAIJAN

SOFAZ 2009 budget amended (07.10.2009)

The 2009 budget of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) was amended by the Decree of the President of Azerbaijan dated October 7, 2009.

As per the Decree, the amount of expenditures of the Fund on financing some projects concerning solution of the social and settlement problems of the refugees and internally displaced persons are increased to 90 000.0 thousand manats instead of the previous 80 000.0 thousand manats, the amount of expenditures for financing the reconstruction of the Samur-Absheron irrigation system and financing construction of the Oguz-Qabala-Baku water supply system are increased accordingly to 130 000.0 thousand manats instead of the previous 110 000.0 thousand manats and to 120 000.0 thousand manats instead of the previous 100 000.0 thousand manats. The amount of expenditures for financing of "Baku-Tbilisi-Kars railway" project are decreased from 80 000.0 thousand manats to 30 000,0 thousand manats.