Bloomberg News

Azerbaijan Expects Budget Deficit of 1.5% of Output Next Year

December 06, 2011

Dec. 6 (Bloomberg) -- Azerbaijan expects a deficit of 1.5 percent of gross domestic product next year, according to the budget law adopted today by the oil-producing former Soviet republic’s parliament.

Budget revenue is expected to rise 5.7 percent to 16.4 billion manats ($20.9 billion) from this year’s 15.6 billion manats, Akif Tavakkuloglu, a spokesman for the parliament, said by phone today from Baku, the capital. Spending is forecast to rise 7.1 percent to 17.1 billion manats from 15.9 billion manats in 2011, he said.

--Editors: Jennifer M. Freedman, Louis Meixler

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net


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