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    Azerbaijan reduces budget forecasts

    Minister: This year's budget revenues forecasted to be less by 12%, while expenses by 16%

    Baku. 7 October. REPORT.AZ/ State budget execution for 2015 is expected to be lower than the approved forecast. By the end of this year, the budget revenues will be lower than the forecast of 12.1%, expenditures - by 16%.

    Report informs, it was stated by Finance Minister Samir Sharifov at today's meeting of the Milli Majlis committee during the discussion of the budget package for 2016. Original state budget revenues for 2015 were projected in the amount of 19.438 bln AZN, expenses - 21 bln AZN.

    Minister also stressed that, although in 2015 a transfer from the State Oil Fund to the state budget projected to be 10.388 bln AZN, performance forecast is expected to reach 8.130 bln AZN.

    In 2016 it is projected to transfer funds from the State Oil Fund to the state budget in the amount of 6.0 bln AZN, which is by 42.2% less compared with forecast for 2015.

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