​Azerbaijan reduces costs on international activities next year by more than 2 times

Baku. 23 September. REPORT.AZ/ The draft state budget for 2016 includes 26 million AZN to finance the activities of international and national importance.

Report informs citing the draft state budget for 2016, this means a reduction in costs compared to 2015 by more than two times. In 2015 60 million AZN were provided for these purposes.

The draft state budget of Azerbaijan for 2016 plans revenues 25.2% of GDP or 14,566 billion AZN, expensesin the amount of 28.2% of GDP, or 16,264 billion AZN. Compared with the corresponding figures for 2015 budget revenues for next year decreased by 25.1% and expenditures - by 22.9%. The budget deficit is projected at 1.698 billion AZN, which is 2.17% more than the forecast for 2015.

Next year Baku will host the F1. During the race in Baku, the cars will move paralleling to the Sea Boulevard and make a circle around The Old City National Historical and Architectural Reserve, which is considered the most ancient part of Baku and is included in the UNESCO World Heritage list. Thus, spectators and guests can contemplate the whole city during these competitions. The route with length of 6 km will be significantly changed in altitude, ascents and descents.