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

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

17 June 2010 14:52 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. The total turnover of proceeds and payments on Azerbaijan 1H09 balance-of-payment revenue was $1000.7 million.

Of this, 82.5% or $ 685.3 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 ($1 060.9 million), salary of nonresidents ($25.9 million) and interests on foreign loans ($38.1 million).

$102.6 million came to the country as income. Of this, $62.2 million was added to assets of the State Oil Fund and $5.9 million to foreign exchange reserves of the Central Bank.

The negative balance of revenue of the balance of payment was $795.4 million, up 3.7 from a year ago.

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