Baku, Azerbaijan, June 12
By Anvar Mammadov - Trend:
Azerbaijan plans to increase the value of SOFAZ (State Oil Fund of Azerbaijan) transfers to the country’s state budget, according to the draft adjustment of Azerbaijan’s state budget for 2018.
The budget forecasts were adjusted considering oil price at $55 per barrel. The base price for oil set in the state budget for this year is $45.
Considering the adjustment, the Azerbaijani government expects additional revenues worth 5.6 billion manats, 1.75 billion manats of which are planned to be directed to the state budget in the form of transfers.
SOFAZ transfers to Azerbaijan’s state budget for 2018 are forecast at 9.216 billion manats.
Revenue part of the 2018 state budget is forecast to total 20.127 billion Azerbaijani manats (including centralized revenues in the amount of over 19.473 billion manats, local revenues in the amount of 653.350 million manats), while expenditures are expected to amount to 21.047 billion manats (including centralized expenditures in the amount of over 20.323 billion manats, local expenditures in the amount of 723.925 million manats).
(1.7 manats = 1 USD on June 12)
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