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Finance Minister: "Azerbaijan to penetrate international capital market"

06 February 2007 [10:25] - TODAY.AZ
Azerbaijan will penetrate international capital market this year, Finance Minister Samir Sharifov said.

"Some say there is no need to penetrate international financial market as Azerbaijan is enjoying influx of petrodollars. Government doesn't agree with this viewpoint. Buying and selling rate of Azeri bonds will show the rating of the economy. Moreover, we will be able to reduce financial risks of currency reserves," he underscored.

He said Azerbaijan will be granted new ratings by Fitch in a few days. "Probably, the country's ratings will be advanced one more point, and Azerbaijan’s access to international market will be expanded," he said.

He said one of the priorities will be to rein increasing current expenditures of the budget. "Increase of current spending leads to inflation. 2007 State Budget blueprints AZN 3.4mln for current spending and AZN 2.17mln for capital spending," he said, APA reports.


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