oil fund

STATE OIL FUND OF THE REPUBLIC OF AZERBAIJAN

SOFAZ 2008 budget execution approved (30.06.2009)

The President of Azerbaijan approved by his Decree dated June 30, 2009 the execution of the 2008 budget of the State Oil Fund of the Republic of Azerbaijan.

As per the Decree, the revenues of the Fund were executed with 11 864 648,1 thousand manats or 17 % surplus, and expenditures in the amount of 4 291 751,4 thousand manats or 2 % less than budgeted expenditures.