Surplus of balance of payments of Azerbaijan makes $ 1.4 bln

Baku. 18 December. REPORT.AZ/ In January-September, the total surplus of balance of payments of Azerbaijan amounted to $ 1.4 billion.

Report informs referring to the Central Bank of Azerbaijan (CBA), this was caused by increase of oil price by 25%, positive tendencies in the current account of non-oil sector achieved as a result of measures carried out for ensuring the macro economy and financial stability and financing of oil and gas projects at the expense of foreign loans.

During 9 months, the current account surplus was $ 1.1 billion. The current account surplus for oil and gas sector increased by $ 2 billion or 66.7% to $ 5 billion as compared to the same period of last year. The current account deficit for non-oil sector decreased by $ 0.2 billion or 5% to $3.9 billion as compared last year. In other words, the surplus of oil and gas sector covered the deficit of non-oil sector.