Azerbaijani parliament changes state budget for 2016

The Azerbaijani parliament (Milli Majlis) has approved amendments to the state budget for 2016.

For example, the income level has been set at 16.822 billion manats, which is 15.5% more than in the previously approved forecasts. The expenditure part of the budget is set at 18.495 billion manats, while the budget deficit will amount to 1.673 billion manats.

In the new version of the budget, revenues from the non-oil sector will amount to 7.597 million manats, or 45.2%, which is 4.8% more than the previously approved figure.

An important clarification of Azerbaijan's budget was the fact that after amendments, the base oil price was set at 25 dollars per barrel.