The Azerbaijani government has corrected the state budget for the current year based on a basic oil price of $25 per barrel, said the Finance Minister Samir Sharifov. According to him, in the revised budget the revenues and expenditures of the state budget increased by 2 billion manat. Revenues of state budget this year will amount to 16.5 billion manat.
"The expected size of the deficit is 1.7 billion manats. To cover it will be sent the treasury balance for 1 January, 2016 the amount of 1.4 billion manat," the minister said. From the privatization of state assets is expected to gain 100 million manats. These funds will be used to repay the state budget deficit.
It is predicted that this year the Ministry of Taxes will collected by 200 million manat less, than was planned in the law of Azerbaijan Republic "On State Budget for 2016". These funds will be offset by a corresponding increase in customs revenue. For the development of business in 2016 will be allocated from the state budget 70 million manat, more than forecasted (66 million AZN.) -08D--
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review