Minister of Finance Samir Sharifov of Azerbaijan
Finance minister Samir Sharifov said that for the past four years country’s strategic currency reserves grew 4.
The Minister of Finance Samir Sharifov has commented upon Parliamentary discussion on the declining oil prices.
Fund; indeed information on this is available at www.
SOFAZ CEO Sharifov came up with the idea for the company, the source added.
A delegation led by Finance Minister Samir Sharifov was in Washington, D.
Trade is one of the significant elements in our economic cooperation, Minister Sharifov said in opening remarks at the meeting.
46 billion) for defense spending and security in 2009, Finance Minister Samir Sharifov has said.
Sharifov expressed satisfaction with the activities of these organizations.
transparent, including yearly audits, and fiscally conservative.
and when spending begins, it will draw on dividends, but not the principal.
Addressing the opening ceremony, chairman of the Commission on ITMRPI Samir Sharifov said that the memorandum envisions the rights and commitments of the signatories and eliminates discrepancy on implementation of the ITMRPI.
established in Azerbaijan after he country declared its joining the initiative in a relevant conference held in London in June 2003.
Addressing the opening ceremony, chairman of the commission on EITI, State Oil Fund Executive Director Samir Sharifov said that the memorandum, which defines the rights and commitments of the signatories, will eliminate their discrepancies related to the implementation of the Initiative.
The commission on EITI led by Samir Sharifov was established in Azerbaijan after the country declared its joining the initiative at a relevant conference held in London in June 2003.
Sharifov said while his country's fund is also set up as a separate legal entity, not everything is clear in the relationship between the state and the fund, and debate continues on how the money will be used.
Sharifov said that the local banks are unable to issue such long-term lending so the government is taking all necessary measures to promote the activity of commercial banks in this direction.
Answering to the actual question on management of the Oil Fund Samir Sharifov said that the president must manage the Fund because Azerbaijan is a presidential republic and supreme executive power concentrated in the republic president.
The commission co-chair, Finance Minister Samir Sharifov said in his remarks that President Ilham Aliyev's visit to Washington in April 2006 gave a major boost to the political, economic and humanitarian cooperation between the two countries.
But we will consider attracting three or four new managers," Sharifov said and added that their number would depend on portfolio amounts.
Azeri Finance Minister Samir Sharifov said Baku corrected its 2009 forecasts based on conservative estimates of the world energy market, the Azerbaijan Business Center reported.
Sharifov said the previous budget was based on oil at $70 per barrel.
Sharifov discussed many issues related to SOFAZ, including expected revenues, strategic planning, asset management, and expenditure plans.
Sharifov is on a working visit in Washington, DC to attend the second meeting of the International Advisory Group of the Extractive Industries Transparency Initiative (EITI.
Sharifov is also the Chairman of the National Committee on EITI.
Samir Sharifov said a relevant package of proposals had already been submitted to the Fund's Observation Council, explaining the new investment policy with Azerbaijan's growing oil revenues.