logo

What Does Oil Mean for Azerbaijani Economy?

Views: 28

The revenues to the state budget for 9 months of this year exceeded the indicator of the same period of last year by AZN 1.9 bn. At the same time, budget revenues from the non-oil sector decreased by AZN 18 million, the economist Rovshan Agayev said on his Facebook page.

It is estimated that AZN 1,040 million of budget growth accounted for transfers from the State Oil Fund, AZN 316.5 million – for transfers from the oil sector, AZN 250 million – for transfers from the Central Bank, and AZN 297 million – for transfers from the customs system.

The increase in the price of oil by only $ 10 was enough to ensure that budget revenues rose by AZN 1.5 billion. At the same time, according to official statistics, the non-oil sector grew by 3% over the year. However, the stated growth for some reason did not affect the revenues to the state budget of Azerbaijan.

Comments: 0

Your email address will not be published. Required fields are marked with *

0

Your Cart