Head of NBA Says Azerbaijan’s Share in Oil Revenues to Reach 70% in a Couple of Years
Azerbaijan, Baku/ Trend , corr. I. Khalilova/ Elman Rustamov, the Chairman of the National Bank of Azerbaijan, has said during the meeting of the Azerbaijani Government dedicated to the results of the first quarter of 2007 that Azerbaijan's share in the oil revenues will reach 70% in a year or two, after the repatriation is completed.
Due to this fact, according to some calculations made, the surplus of foreign balance of the country is expected to reach $15-17 bln. in the next few years, and that is equal the existing volume of Azerbaijan's GDP.
To date, Azerbaijan has returned over 80 % of all the foreign investments put into the economy of the country.
The strategic currency reserves of the country have exceeded $4.1 bln.
According to Mr. Rustamov, the country has gained $250 mln. as revenues from governing the currency reserves.