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

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

28 December 2009 13:21 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. The total turnover of proceeds and payments on Azerbaijanâ€™s January-September balance-of-payment revenue was $3 488.7 million.

Of this, 86.4% or $3 013.3 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 ($2 340 million), salary of nonresidents ($88.2 million) and interests on foreign loans ($209.3 million).

$475.4 million came to the country as income. Of this, $340.3 million was added to assets of the State Oil Fund and $38.4 million to foreign exchange reserves of the Central Bank and $7.5 million to the banksâ€™ assets abroad.

The negative balance of revenue of the balance of payment was $2 537.9 million, down 1.9 fold from a year ago.

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