04.12.2012 - How will Azerbaijan solve its oil fund deficit?
Next year, for the first time in its history, the countryís State Oil Fund will post a multi-billion-dollar deficit. For economists, the question is what to do about it. Azerbaijanís 2013 budget, passed on November 30, is expected to increase by roughly 12 percent to 19.15 billion manats or $24.4 billion. As it has since 2009, the State Oil Fund (SOFAZ), which oversees investment of the countryís oil revenues, will provide the lionís share (59.3 percent) of that sum, via a direct transfer of 11.4 billion manats, or $14.5 billion...............................................Full Article: Source
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