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IMF forecasts a budget deficit for Azerbaijan this year

IMF forecasts a budget deficit for Azerbaijan this year

05 June 2009 14:21 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. The International Monetary Fund (IMF) forecasts a small deficit of Azerbaijanâ€™s state budget at this yearend, IMF representative for Azerbaijan Koba Gvenetadze quoted the World Economic Outlook (WEO) April Update as saying.

According to him, the budget surplus is predicted to recover in 2010.

â€Oil prices are moving up on the world markets. If this trend persists, Azerbaijan will be able to avoid budget deficit in 2009 and surplus will exceed forecast in 2010,â€ he added.

He added that the IMF forecasts will be adjusted as changes in oil prices.

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