According to the payment balance issued by National Bank of Azerbaijan, the countrys strategic currency reserves rose by 1.7% and amounted $2 616mln a of April 1, 2006. (accounting for rates).
NBA officials told Trend , assets of State Oil Fund amount $1,463.5mln, MNAs cumulative international assets - $1,152.5mln. Currency reserves in NBAs disposal amounted $1,026.6mln, enabling finance 4.4-month import of goods and services, apart from oil&gas sector.
According to the payment balance, during 1Q total turnover on payments and
revenues amounted $703.6mln, from which 92.1% ($647.8mln) are intrarepublican payments. Main part of the payments ($532.1mln) is for incomes repatriation (through crude oil).
AIOCs foreign investors paid $34.7mln as salaries to expatriates and percentage on used credits, including oil sector ($39.2mln).
Incomes flowing to the country rose by 31.4% over year and amounted $55.8mln. From this amount, percentage charged due to funds management by SOFAR amounted $12.7mln, those from NBAs currency reserves $10.2mln and assets of second level banks deposited abroad - $1.8mln.