2016 State Budget of Azerbaijan was Approved

2016 State Budget of Azerbaijan was Approved

President of Azerbaijan Ilham Aliyev has approved the state budget for 2016 on December 7th, 2015. Total government revenues will be 14.6 billion manats ($13.9 billion), down from 19.4 billion manats this year. Spending will be 16.3 billion manats, down from 21.1 billion manats in 2015.

A deficit of 2.9 percent of GDP is expected, up from 2.6 percent of GDP in 2015. The oil sector is expected to decline to 53.5 percent of GDP next year from 65.3 percent in 2015.

Azerbaijan expects to produce 40 million tonnes of oil and 30 billion cubic metres (bcm) of gas in 2016 according to the State Oil Company of Azerbaijan Republic (SOCAR).

Download CESD Budget Research Paper Here

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