Azerbaijan’s state budget deficit to be up by over $120M

The deficit of the revised 2023 state budget of Azerbaijan is increased by 210 million manats ($123.4 million) to 2.789 billion manats ($1.639 billion), Report informs, citing the Ministry of Finance.

According to the information, the financing of the increase in the deficit will be provided through domestic borrowing and additional revenues from privatization. The ratio of the deficit to the forecasted gross domestic product for late 2023 will be 2.5%.