The increase in the budget deficit will be provided mainly by domestic borrowing
The forecast of the deficit of the state budget of Azerbaijan for 2024 increases by 764.3 million manats, of which 600 million manats will be provided by funds raised from an internal loan, the draft law on amendments to the law ” On the state budget for 2024."
According to the document, 105.9 million manats of the increase will be provided from the free balance of the single treasury account, and 58.4 million manats from the balance of the funds of the target budget funds. The ratio of the deficit to the expected gross domestic product by the end of this year will be 2.8%.
Finance
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Rising prices for electricity, natural gas and heat in Azerbaijan since the beginning of this year may have a significant impact on annual inflation at the level of 0.51 %.
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The Central Bank of Azerbaijan (CBA) forecasts that an average price of a barrel of oil in the world market in 2025 will be $77.3, and the price of 1000 cubic metres of natural gas - $349.
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The Central Bank of Azerbaijan (CBA) forecasts that by the end of 2025 the country's economic growth will be 3.3 %, including the production of gross domestic product (GDP) in the non-oil and gas sector to grow by 5.2 %.
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According to updated forecasts of the Central Bank of Azerbaijan (CBA), annual inflation is expected to be about 5.5 % in 2025 and about 3.8 % in 2026.This is reported on the CBA's website.
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