In 2015, the state budget deficit amounted to 633,600,000 manats, which was covered by the remainder of the single treasury account.
The press service of the Ministry of Finance told Turan the other sources to cover the deficit are revenues from privatization, revenues from state securities placement and foreign grants. However, the Finance Ministry did not provide information on the amount of revenues and earnings.
Recall that on January 1, 2015 there was a single treasury account of 1,728,632,300 manats.
The revenues (17,153,200,000 manats) of the state budget for 2015 were executed at 88.2% and the expenses (17,786,800,000 manats) – at 84.3%. ----08B
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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