Non-oil budget deficit increases; Brief comparative report on Eastern Partnership countries

60 % of Azerbaijan State Budget revenues will be transferred from Oil Fund in 2011 Azerbaijan 2011 State Budget deficit would have been 24 % of GDP without the SOFAZ transfers The transfer of State Oil Fund to state budget in 2011 will be more than %12 billion, announced State Oil Fund of Azerbaijan (SOFAZ). According to fund’s announcement, SOFAZ’s total means make $31 billion.  The large gap between budget expenditure and revenue was again bridged by substantial... Read More