Azerbaijan revises budget forecast for 2015
Baku, Azerbaijan, Oct. 7
By Azad Hasanli - Trend:
The Azerbaijani government has reduced forecasts for the execution of the state budget-2015, Azerbaijani Finance Minister Samir Sharifov said Oct. 7.
Sharifov made this statement during the discussion of the draft state budget-2016 and the next three years at a joint session of the parliamentary committees on science and education, legal policy and state structure, regional issues, culture, human rights, international affairs and inter-parliamentary relations.
"According to the expectations, the state budget revenues will amount to 17.08 billion manat, which is 12.1 percent less than the approved forecast for the current year," the minister said.
"The state budget expenditures will be fulfilled only by 84 percent or 16 percent less than the projected amount."
Sharifov said that this is connected with the fact that the Azerbaijani economy suffered two shocks this year - as a result of the fall in oil prices and the devaluation of national currencies of neighboring countries.
"These factors have determined the outcome of executing the state budget-2015," he said.
The state budget revenues for 2015 were approved at 19.438 billion manat, expenses - 21.1 billion manat.
The official exchange rate is 1.0478 AZN/USD Oct. 7.
Edited by CN