Baku, Azerbaijan, Nov. 22
By Anvar Mammadov – Trend:
The state budget of Azerbaijan for 2018 can be revised in May next year, in case oil prices remain above $60 per barrel, said Speaker of the Azerbaijani parliament Ogtay Asadov during discussions at a plenary session on Nov. 22.
Asadov noted that the country, which actually is in a state of martial law, must take into account all possible risks, and the cost at a $45 per barrel of oil was taken into account in the draft budget for 2018 precisely to prevent possible risks.
Revenues of the Azerbaijani state budget for 2018 are forecasted to stand at 20.127 billion manats (including centralized incomes – 19.476 billion manats, local – 650.671 million manats), expenditures – 20.905 billion manats (including centralized expenses – 20.182 billion manats, local – 724.092 million manats).
The deficit of the Azerbaijani state budget for 2018 is forecasted to total 778.7 million manats or 1.1 percent of GDP.
Oil revenues in the state budget of Azerbaijan for the next year will amount to 11.096 million manats. At the same time, the growth of oil revenues of the state budget will amount to 39.7 percent as compared to 2017.