IMF Special Issues

Managing Oil Wealth: The Case of Azerbaijan

Author/Editor:

Niko A Hobdari ; Chonira E Aturupane ; Eric Le Borgne ; Koba Gvenetadze ; John Wakeman-Linn ; Stephan Danninger

Publication Date:

April 21, 2004

Electronic Access:

Link to Abstract

Summary:

Oil and gas production in Azerbaijan were projected to increase sharply in 2005 and 2006, respectively, reaching peaks of 1.3 million barrels a day in 2009 and 20 billion cubic meters a year in 2010. Although expected revenues over the next 20 years will be substantial, they are projected to return to 2004 levels by 2024. Managing this temporary windfall in a way that allows for economic diversification and increased living standards is the subject of this book, which provides extensive guidance based largely on lessons drawn from the experiences--mostly negative--of other countries.

Series:

IMF Special Issues

Subject:

Commodities Environment Expenditure Fiscal policy Natural resources Oil Oil prices Oil, gas and mining taxes Prices Taxes