Managing Oil Wealth

Download or read book Managing Oil Wealth written by Mr.Eric Le Borgne and published by International Monetary Fund. This book was released on 2004-04-21 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.