Chapter 6. Conclusion
Author: Mr. Niko A Hobdari, Ms. Chonira E Aturupane, Mr. Eric Le Borgne1, Mr. Koba Gvenetadze, Mr. John Wakeman-Linn, and Mr. Stephan Danninger
  • 1 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund
Language:
English
Keywords:
ISI; SI; natural resource boom; government; natural resource; deficit; windfall oil revenue; oil revenue management; oil wealth; oil deficit; Oil; gas and mining taxes; Natural resources; Oil prices; Sub-Saharan Africa; Africa; Asia and Pacific; revenue windfall; oil windfall

Abstract

In the near future, Azerbaijan is expected to benefit from a substantial, but short-lived, oil- and gas-related revenue windfall. Even under conservative assumptions, revenues accruing to the country are expected to average around US$800 million during the period 2003–07 and over US$2 billion per year during the period 2008–24, compared to 2002 GDP of just over US$6 billion. Because few countries have been successful in managing natural resource wealth of this relative magnitude, the government faces a key and immediate challenge: managing this short-lived natural resource wealth in such a manner as to avoid the pitfalls of Dutch disease and ensure the simultaneous development of the non-oil sector.

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Cover Managing Oil Wealth
Managing Oil Wealth
The Case of Azerbaijan
Author: Mr. Niko A Hobdari, Ms. Chonira E Aturupane, Mr. Eric Le Borgne, Mr. Koba Gvenetadze, Mr. John Wakeman-Linn, and Mr. Stephan Danninger
ISBN:
9781589063082
Publication Date:
21 Apr 2004
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589063082.058
Pages:
50

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