Azerbaijan Republic: Selected Issues

International Monetary Fund

No 2005/017, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper on Azerbaijan Republic reports that the government has made substantial progress in dealing with energy-related subsidies. The domestic market for oil products has been tightly regulated by the government since Azerbaijan gained independence. Azerbaijan is largely self-sufficient in oil products because of its substantial endowment of exhaustible mineral deposits and existing refining capacity. Although Azerbaijan is self-sufficient in oil products, it needs to import about 3 billion cubic meters (bcm) of natural gas annually to meet its domestic consumption demand of 7 bcm.

Keywords: ISCR; CR; price; income; Azerbaijan; country; convergence; energy price; reference price; energy product price; income convergence; State budget; price fluctuation; private sector; per capita income; Energy prices; Price adjustments; Personal income; Oil prices; Import prices; Europe; Baltics (search for similar items in EconPapers)
Pages: 33
Date: 2005-01-21
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