Bill on 2012 draft state budget submitted to Parliament

Bill on 2012 draft state budget submitted to Parliament Draft budget on state budget of Azerbaijan for 2012 has been submitted to the Parliament. The statement came from MP, member of Economic Police Committee Vahid Ahmadov. The draft is expected to be distributed to MPs next week. Note that, incomes of consolidated budget are considered at the amount of AZN 16,436.4m, expenses – AZN 16,984.4m, deficit – AZN 548m. Next year, revenues from SOCAR are forecasted at AZN 9.9... Read More

No money left at the State Oil Fund of Azerbaijan in 2015

No money left at the State Oil Fund of Azerbaijan in 2015 Fantastic transfers prove that all oil revenues can be spent within next 3 years Finance Ministry of Azerbaijan reports that consolidated budget draft of Azerbaijan is made with the forecast of SOFAZ’s revenues at AZN 10.697 billion ($ 13,54 billion) and expenditures at AZN 10.482 billion ($ 13,27 billion). The Ministry reports that the Draft Law says that the oil sector will provide at least AZN 12 billion ($ 15, 28... Read More