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Azerbaijan forecasts surplus budget in 2019

Draft of the state budget and consolidated budget of 2017 said

Baku. 29 September. REPORT.AZ/ According to the medium-term budget framework of Azerbaijan, intercept of the 2017-2018 consolidated budget will decrease, however, surplus budget is forecasted from 2019.

Report informs, “Draft of the state budget and consolidated budget of 2017" says.

According to the draft, the policy, to reduce dependence of the state and consolidated budget on oil revenues will be continued.

Thus, according to forecasts prepared for the years 2017-2020, starting from 2020, current expenditures of the state budget will be met at the expense of non-oil revenues. Also, it is forecasted that in 2020, consolidated budget deficit, calculated without taking into account the revenues of the State Oil Fund of Azerbaijan (SOFAZ), will make total of 6.9% of the gross domestic product (GDP). 

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