OREANDA-NEWS. April 27, 2010. According to ADB-made Asian Development Outlook (ADO 2010), Azerbaijan’s external account in 2010 and 2011 is expected to remain strong on higher oil export receipts with the current account surplus projected at 23.0% of GDP.

“The recovery of the global economy will boost non-oil exports, too, while the upturn in the Russian economy will support higher workers’ remittances. The larger current account surplus, along with larger transfers from SOFAZ, will preclude the need for net foreign borrowing. External debt is projected to fall over the forecast period,” ADO says.

The Bank indicates that already in 2010 transfer from SOFAZ will total AZN 4.9 bn or USD6.1 bn.