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Azerbaijan says deficit in balance-of-payment revenue narrowed sharply

Azerbaijan says deficit in balance-of-payment revenue narrowed sharply

16 September 2009 11:49 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. The total turnover of proceeds and payments on Azerbaijan 1H09 balance-of-payment revenue was $1 789 million.

Of this, 82.5% or $1 475.2 million was payments from Azerbaijan as repatriation of dividends to foreign investors (in the form of crude oil and gas) by Azerbaijan International Operating Company ($1 060.9 million), salary of nonresidents ($67.5 million) and interests on foreign loans ($142.9 million).

$313.8 million came to the country as income. Of this, $207.7 million was added to assets of the State Oil Fund and $37 million to foreign exchange reserves of the Central Bank.

The negative balance of revenue of the balance of payment was $1 161.4 million, down 3.2 fold from a year ago.

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