Azerbaijan to target foreign currency inflow toward expenditures in the same currencies

Azerbaijan to target foreign currency inflow toward expenditures in the same currencies
# 26 February 2007 15:40 (UTC +04:00)
Azerbaijan’s Cabinet has approved of Regulations on Targeting of Budget Revenues in Foreign Currencies toward Expenditures in the Same Currencies.
The move is aimed at ensuring efficiency that the foreign currency inflow to the budget will be targeted to foreign currency outflow without any loss in exchange.
As per the regulations, the foreign currency inflow will be registered by the Treasury according to the National Bank’s official interest rate for the same day and will be used for financial payments abroad.
By the regulations, repayments for taxes paid to the budget by foreign entities engaged in development and exploitation of oil fields on PSA can be made in foreign currencies. /APA-Economics/

Politics

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THE OPERATION IS BEING PERFORMED