Azeri economy does not rely on money transfers

The IMF states that the Azeri economy does not rely on money transfers from abroad. According to 2008 figures Azerbaijan received around 1.5 million USD in such transfers, of which 54% came from Russia.

Azeri economic analyst Parkhad Omarov thinks that the quantity of money transfers into Azerbaijan is almost the same as that of state investment in the Azeri economy. Unlike neighbouring South Caucasus countries Armenia and Georgia, Azerbaijan makes most of its money from selling gas and oil so has less need of money transfers.