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Azerbaijanâ€™s state budget-2012 is expected to increase by 30%

Azerbaijanâ€™s state budget-2012 is expected to increase by 30%

16 September 2011 08:40 (UTC +04:00)

Baku. Ali Ahmadov â€“ APA-Economics. During drafting of Azerbaijanâ€™s state budget-2012 and macroeconomic forecasts, the base price of oil has been laid at the level of $80 per barrel, sources in government told APA.

According to information, expenses of state budget for the next year are expected to increase by 30% compared to 2011. The transfers of State Oil Fund are also will be more than 2011.

Remind that, the Finance Ministry has submitted draft of state budget for 2012 and for the next 3 years to the Cabinet of Ministers. Draft budget is expected to discuss on September 21, at the Cabinet.

Note that, revenues of the state budget for 2011 approved AZN 15,554.2 mln, expenses â€“ AZN 15,941.2 mln. The base price of oil lies at the level of $80 per barrel. On September 15, price of Azerbaijani oil in world markets amounted to $119.56.

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