Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-June, 2008 reached 4893,9 million manats, while budget expenditures constituted 1404,4 mln. manats.

Revenue of 4866,5 mln. manats was received from implementation of oil and gas agreements, including 4804,6 mln. manats from the sale of profit oil, 0,8 mln. manats as acreage payments, 0,4 million manats as bonus payments, 60,4 mln. manats from Azerbaijan's State participation share in the Heydar Aliyev Baku-Tbilisi-Ceyhan (BTC) Main Export Pipeline and 0,3 mln. from sale of assets received from foreign companies.

The revenues from managing assets of the Fund for the reporting period amounted to 27,4 mln. manats.

As per 2008 budget of the Fund, the expenditures in the amount of 26,7 mln. manats were directed to financing of improvement of social condition of refugees and internally displaced persons, 27,3 mln. manats and 75,6 mln. manats were accordingly used for financing the reconstruction of the Samur-Absheron irrigation system and financing construction of the Oghuz-Gabala-Baku water supply system. 2,5 mln. manats were directed to financing Baku-Tbilisi-Kars railway and 0,2 mln. manats to financing "The state program on the education of Azerbaijan youth abroad in the years 2007-2015". 1270,0 mln. manats were transferred to the state budget. The Fund's administrative and operational expenses in this period were 2,1 mln. manats.

The Fund paid profit tax of 19,2 mln. manats. The Fund's extra-budgetary expenditure due to asset revaluation stood at 74,7 mln. manats.

The assets of SOFAZ as at July 1, 2008 has grown by 162,3 % compared to the beginning of the year and stood at 5488,0mln. manats (USD 6762,1 mln.).