State Budget of Azerbaijan 2021

Due to the recent war in Karabakh, the presentation, discussion, and approval of the state budget of Azerbaijan was delayed until the very last days of December. As the proposal has been adopted by the Parliament and signed into law by the President, I have decided to take a brief look and share with you the points that I deem noteworthy.

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Amendments to the 2020 State Budget of Azerbaijan

The Ministry of Finance of Azerbaijan recently announced the proposal for the amendments to the 2020 state budget. The move comes as no surprise, given the current economic climate. However, there is much to discuss in amendments, particularly concerning the State Oil Fund and the Budget Rule…

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Oil Sector of Azerbaijan in 2020 and its Implications for the State Budget

The Coronavirus pandemic has affected almost every sector of the global economy in the first five months of 2020. To add insult to injury, the economy of Azerbaijan has been further pressured by the historically low oil prices. In this post, I decided to take a brief look at the oil sector of Azerbaijan today and its potential implications for us in the near future.

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Fiscal Rule of Azerbaijan: A Positive First Step?

As a broad term, fiscal policy refers to the management of taxes and expenditures by governments. It is certainly the number one tool that the governments utilize to intervene into the national economy. That intervention, on the other hand, should have definite restraints, which brings us to the topic of fiscal rules…

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2018 Budget Amendments: There and Back Again

For a couple of years now the Azerbaijani state budget has developed the habit of being subject to amendments, especially when considerable variations in price of oil is at hand. Amending the state budget itself is a natural process, allowing the government to match (!) revenues and expenditures. However, as we will soon see, the nature of budget revisions in Azerbaijan is fundamentally different.

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