Azerbaijan Economy in the first seven months of 2017; Brief Overview

Azerbaijan Economy in the first seven months of 2017; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first seven months of 2017. Both independent and official reports show that GDP declined in the reporting period. According to the State Statistic Committee of Azerbaijan, GDP decreased by 1.0 % in January-July of 2017 compared with the period of 2016 since CESD calculations found... Read More

Azerbaijani Oil Fund`s 2017 Budget with 75.0 % deficit

Azerbaijani Oil Fund`s 2017 Budget with 75.0 % deficit The budget of the State Oil Fund of Azerbaijan (SOFAZ) for 2017 will have a planned deficit of 6.1 billion manat. Meanwhile, expenditures of the Fund will exceed its revenue by 1.73 times. According to the decree on the SOFAZ’s 2017 budget, the fund’s expenditure is 14.5 billion manat ($ 8.2 billion US) and revenue is 8.37 billion manat ($ 4.7 billion US). SOFAZ’s deficit for 2017 is $... Read More