Kazakhstan is spending petrodollars more rationally than Azerbaijan

Kazakhstani leadership is spending petrodollars more rationally than the colleagues from Azerbaijan. This is the summary of the speech of the Chairman of the Economic Research Center Gubad Ibadoglu in Almaty within a project supported by the Institute of Revenue Control (USA).

Kazakhstan's oil production expected to reduce the rate of raw materials in 2025, while local deposits decline observed since 2011. In Kazakhstan, the outcome of this year is expected to be 81 million, the next year - 90 million, and in 2025 - 135 million tons of oil. Further decline is expected to reach 110 million tons in 2030.

In addition, the oil sector accounts for only 25% of the revenue of the country in 2013-th year, the budget of Azerbaijan's financial revenues from the sale of hydrocarbons to 73%. In this case, the Kazakh government expects covering 7.2% of the budget deficit by the oil fund while reducing transfers in 2020 to 3%.

Azerbaijan's budget in 2010 to 38% in 2011 to 44% of petroleum transfers, and the upward trend is evident. The reason is that the Oil Fund of Azerbaijan entirely at the disposal of the President, in Kazakhstan the legislated ceiling transfers of $ 8 billion, regardless of the level of oil production. Because in this country, the share of such transfers in the budget does not exceed 20% and it can be seen falling from year to year. In Azerbaijan, the share of oil revenues in the budget does not fall below 60%.

Kazakhstan's oil fund has accumulated $ 55 billion, and interest from the management of its assets in a 2-fold higher than in the SOFAR.

The situation with the transparency and accountability of asset management SOFAR better than in Kazakhstan - some positions that are open to the Azerbaijani public, closed to the Kazakhs. SOFAR has permanent virtual information portal, which can not be said of his colleagues beyond the Caspian Sea. - 17D-

 

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