In 2014, the budget deficit will grow from 691 million to 1,679 million manat. The budget package gives no information about what means the government to patch this " hole."
As in previous years, the financing of the state budget deficit will be funded by proceeds from the sale of state assets, internal and external debt borrowing. In the budget package notes that one of the sources of the deficit will be the single treasury account balance, which is expected to be empty.
This year, the government expects the proceeds from the privatization of the state budget of 35 million manat, as much as it was in 2012. The bulk of the budget shortage the government hopes to fund through internal and external borrowing debts, that is, the placement of debt securities for a total amount of 440.5 million manat, 9.7 times more than in 2012. To finance the budget "hole" there will be also foreign grants in the amount of AZN 10.5 million (+1.5 mln). - 08B-
Economics
-
On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
-
Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
-
Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
-
While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
Leave a review