A meeting of the Supervisory Board of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) was held on December 11, 2009. The meeting chaired by Mr. Artur Rasi-zadeh, Prime Minister and Chairman of the Supervisory Board discussed the SOFAZ draft budget for 2010.

The Board approved the Fund's 2010 budget revenues at 5963126.7 thousand manats, its expenditures at 5 428431.2 thousand manats and the Fund's operating expenditures at 33431.2 thousand manats. The Supervisory Board recommended the Fund's 2010 draft budget, including the major directions of its investment policy, and its draft annual operating expenditures for the approval by President of the Republic of Azerbaijan.