| Azerbaijan's successful debut sovereign Eurobond placement amid the market situation in the region reflects investors' confidence in the balanced management of oil revenues, head of the IMF mission on Article IV of the Articles of Agreement of the International Monetary Fund Raja Almarzoqi said in Baku on March 17.
"The aim is to consolidate the budget, that is, to reduce dependence on oil revenues by further decline in transfers from the State Oil Fund of Azerbaijan (SOFAZ)," he said. "The state budget revenue generated by the private sector must increase. All this will create a strong buffer for the national economy in case of oil price decrease."..............................................Full Article: Source |