$ 2,2 billion deficit in SOFAZ budget

$ 2,2 billion deficit in SOFAZ budget Revenue of State Oil Fund of Azerbaijan (SOFAZ) is forecasted at AZN 11,82 billion ($ 15,12 billion) since expenditure will be AZN 13, 59 billion ($ 17,32 billion) in 2013. SOFAZ will face budget deficit which will be AZN 1,78 billion ($ 2,22 billion) next year. Meanwhile Ministry of Finance reports SOFAZ will spend AZN 2,149 billion ($ 2,755 billion) on investment projects in 2013.  SOFAZ transfers to the... Read More

2013 Budget Package at the Azerbaijani Parliament

2013 Budget Package at the Azerbaijani Parliament Azerbaijan’s budget project for 2013 will be discussed at the meeting of Economic Policy Committee, said the Committee Chairman Ziyad Samadzade. According to him, the budget package will be discussed at the plenary meeting of parliament, APA reports. Touching upon the base price of oil in the state budget Samadzade stressed that, this extent was not risky and within its determination the oil price... Read More