Ilham Aliyev approves budget of State Oil Fund

The Azerbaijani president has approved the budget project of the State Oil Fund for 2012, 1news.az reports.The fund will have an income of 10,697 billion manats, expenses – 10.561 billion manats.Income from sales of petroleum will total 10.365 billion manats, acre payments – 3.342 million manats, petroleum transit – 8.137 million manats, allocation of assets – 319.218 million manats, other income – 900,000 manats.110 million manats will be spent on accommodation of refugees, 200 million manats on reconstruction of the Samur-Absheron Canal, 252.484 million manats on the Baku-Tbilisi-Kars railway project.20 million manats will be spent on support of Azerbaijani students abroad, according to the state program of 2007-2015.The fund will transfer 9.905 billion manats to the budget in 2012, management of the fund will take 73.82 million manats.