Strategic monetary reserves of Azerbaijan increases 70 percent per year
Azerbaijan, Baku, June 17 / Trend , N.Ismayilova/
Azerbaijan's strategic monetary reserves increased 72.3 percent to $16.047 million as of April 1, according to the Central Bank of Azerbaijan (CBA) payment balance. Out of which $10.512 million account for the State Oil Fund, as well as $375 million for state deposits and $5.159 million for CBA aggregated international assets.
The monetary reserves reached $4.961 million which allows to finance over than ten months import of commodities and services, excluding the oil and gas sector.
In accordance with the balance of payments, the total turnover of payments and receipts of income amounted to $483 million, of which 72.2 percent ($348.6 million) have been carried out from the republic. The bulk of payments ($126.7 million) has been implemented through the repatriation of income (by oil), foreign investors of the Azerbaijan International Operating Consortium (AIOC), to be paid to non-residents accounted for $28.8 million, and interest on loans used, including oil and gas sector -$67.1 million.
Country's incomes increased by 33.1 percent over the same period in 2008, reaching $134.3 million. The interest assessed in connection with the management of SOFAZ accounted for $92.9 million, foreign exchange reserves of CBA - $11.9 million and placed on the overseas assets of banks - $2.8 million.
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