Strategic monetary reserves of Azerbaijan to reach $20 bln by late 2008

By the end of this year the monetary reserves of Azerbaijan will reach $20 bln by the end of the year at the cost of the rise in the assets of the state oil fund, said Finance Minister Samir Sharifov, noting that country's reserves have reached $10 bln.

He said through 4 years the strategic monetary reserves have risen by 4.5 times and made up $7 bln by the end of 2007.

"Within a year the share distribution of revenues from execution of contract for development of Azeri-Chirag-Guneshli oil fields will change twice and Azerbaijan will get the main profit from the contract execution", noted he.

/Day.Az/