Ilham Aliyev approves Law on 2017 State Budget

The law projects the state budget revenues for 2017 at 16.255 billion manats and expenses at 16.9 billion manats.

The upper limit of the state budget deficit was approved at 645 million manats.

The upper limit of the consolidated budget expenses was approved at 28,767,221,600 manats.

Proceeds from privatization, proceeds from the EU grant (20 million manats), internal and external borrowings as well as the treasury account balance in Azerbaijan’s state budget as of Jan. 1, 2017 have been set as the sources for financing the state budget deficit.

Excluding the revenues of Azerbaijan’s State Oil Fund, the country’s consolidated budget deficit is set at about 17.117 billion manats for 2017.