Board of Azerbaijan’s state oil fund approves budget for 2014

The Supervisory Board of Azerbaijan’sState Oil Fund (SOFAZ) met on November 29, 2013, the fund said by email.

The board, chaired by Prime Minister Artur Rasizada, approved the fund's2014 budget revenue at 11.62 billion manat, its spending at 11.34 billion manatand operating expenditure at 58.1 million manat.

The Supervisory Boardrecommended the fund's 2014 draft budget, including the major directions of itsinvestment policy, and its draft annual operating expenditures for approval by AzerbaijanPresident Ilham Aliyev.

ANN.Az