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Azerbaijan sees 15% decline in negative balance on incomes

13 September 2013 12:30 (UTC +04:00)

Baku. Vahab Rzayev – APA-ECONOMICS. The total turnover of incomes and payments on revenue in BoP (balance of payment) was accounted $ 2,866.2 mln, in January-June, 2013.

Central Bank of Azerbaijan says $ 2,431.8 mln or 84.8% of this was payments from Azerbaijan, $ 434.4 mln or 15.2% - income related revenue.

Thus, the negative balance in BoP on income made $ 1,997.4 mln in the first half of 2013, down 15.1% compared to a year.

Most of payments from Azerbaijan are repatriation of incomes of foreign investors of international oil-gas consortiums ($ 1.9 bln), wages for non-residents ($ 107.9 mln) and paid interests for using the foreign credits ($ 197.8 mln).

Totally, $ 2,012.0 mln of negative balance on income belonged to oil-gas sector, and positive balance in amount of AZN14.6 mln as observed in other spheres. Oil-gas sector’s payments exceeded the incomes by 59.5 times (payments – AZN 2,046.3 mln, incomes – AZn 34.4 mln). The incomes on other spheres exceed the payments by 3.8% (payments – AZN 385.5 mln, incomes – AZN 400.1 mln).