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PRESIDENTIAL DECREE OF THE AZERBAIJAN REPUBLIC

of January 10, 2017 No. 1186

About the budget of the State oil fund of the Azerbaijan Republic for 2017

(as amended on 04-10-2017)

Being guided by Item 32 of article 109 of the Constitution of the Azerbaijan Republic, for the purpose of forming of the budget of the State oil fund of the Azerbaijan Republic for 2017 and ensuring effective management of currency fund I decide:

1. Approve budget receipts of the State oil fund of the Azerbaijan Republic for 2017 in the amount of 10 813 861, 6 thousand manats, expenses - in the amount of 15 242 928, 0 thousand manats.

2. Determine that budget receipts of the State oil fund of the Azerbaijan Republic for 2017 are created due to the following receipts:

Sources of the income

Amount of the income
(one thousand manats)

2.1.

The net incomes gained from realization of the hydrocarbons falling to the share of the Azerbaijan Republic (less transport costs of hydrocarbons, expenses on bank, customs clearance, independent control (surveyor), marketing and insurance, and also except for the income falling on investments or equity of the State Oil Company of Azerbaijan Republic in projects in which it is investor, the unitholder or the partner)

9 826 212,0

2.2.

The Poakrovy payments paid by investors for use of contract area in connection with development of hydrocarbonic resources

3 605,5

2.3.

Income from oil transportation and gas on the territory of the Azerbaijan Republic

17 688,5

2.4.

Income from placement of currency assets of the State oil fund and management of them

963 948,0

2.5.

The bonuses paid by investors in connection with signing or implementation of oil and gas contracts

2 407,6


Total

10 813 861,6

3. Determine that expenses of the budget of the State oil fund of the Azerbaijan Republic for 2017 go to the following purposes:

Directions of expenses

Expense amount (one thousand manats)

3.1.

Financing of some measures connected with social questions and questions of arrangement of refugees and displaced persons

105 000,0

3.2.

Upper limit of transfer in the government budget of the Azerbaijan Republic for 2017

6 100 000,0

3.3.

Upper limit of transfer in the Central Bank of the Azerbaijan Republic for the purpose of ensuring macroeconomic stability

7 500 000,0

3.4.

Financing of the project of reconstruction of irrigating system Samur-Absheron

70 000,0

3.5.

Financing of the project of the new railroad of Baku-Tbilisi-Kars

165 825,0

3.6.

Financing of the State program on training of the Azerbaijani youth in foreign countries in 2007-2015

29 304,0

3.7.

Financing of share of the Azerbaijan Republic in the project of "The southern gas corridor"

496 155,0

3.8.

Financing of share of the Azerbaijan Republic in the construction project of petrochemical complex of STAR in the Republic of Turkey

744 072,0

3.9.

The expenses connected with management of the State oil fund of the Azerbaijan Republic

32 572,0

Total

15 242 928,0

3-1. Approve "The main directions (program) of use of means of the State oil fund of the Azerbaijan Republic in 2017 and its investment policy".

4. Approve "Expense budget on management of the State oil fund of the Azerbaijan Republic in 2017". it (is applied).

President of the Azerbaijan Republic

Ilham Aliyev

Approved by the Presidential decree of the Azerbaijan Republic of May 12, 2017 No. 1378

The main directions (program) of use of means of the State oil fund of the Azerbaijan Republic in 2017 and its investment policy

1. Directions of expenses of means of the State oil fund of the Azerbaijan Republic

1.1. Financing of some measures connected with social questions and questions of accommodation of refugees and displaced persons;

1.2. Transfer in the government budget of the Azerbaijan Republic for 2017;

1.3. Transfer in the Central Bank of the Azerbaijan Republic for the purpose of ensuring macroeconomic stability;

1.4. Financing of the project of reconstruction of Samur-Absheronsky irrigating system;

1.5. Financing of the project of the new railroad of Baku-Tbilisi-Kars;

1.6. Financing of the State Program on training of the Azerbaijani youth in foreign countries in 2007-2015;

1.7. Financing of share of the Azerbaijan Republic in projects of the Southern Gas Corridor;

1.8. Financing of share of the Azerbaijan Republic in the construction project of petrochemical complex of STAR in the Republic of Turkey.

2. Investment policy of the State oil fund of the Azerbaijan Republic

2.1. Purpose of investment policy of the State oil fund of the Azerbaijan Republic

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