Accountability to petrodollars

National wealth should be accountable - that is the keynote of the meeting of the "round table" on "Control of oil revenues", organized by the Center for Economic Research (CER) with the support of Revenue Watch Institute, USA.

According to Chairman of the CER Ghalib Togrul, discussions were held with the participation of experts from four universities (University of Economics, "Gafgaz", "Khazar" and "Azerbaijan"), 2 youth organizations and representatives located in Baku, the foreign diplomatic corps.

Togrul believes that the project will enable the public to better understand the concept of "Azerbaijan 2020: vision of the future" (http://physics.gov.az/future_ru.pdf).

The program manager of the local office of Revenue Watch Institute Fidan Baghirova also reported that limited non-renewable hydrocarbon resources will not last forever, and proceeds from the sale must be used rationally.

Doctor of Economic Sciences Gubad Ibadoglu reported that as of January 1, 2013 the State Oil Fund's assets were $ 34.2 billion, although it could be $ 49.7 billion more. That is, it turns out that 59.3% of oil accumulations have been spent on investment projects. He called on the Azerbaijani government to find and make public a reasonable balanced model of expenditures of the national heritage. - 17D-