International agency`s unfavorable forecast on Azerbaijan


October 13, Fineko/ Moody's Investors Service has given a pessimistic forecast on Azerbaijan's budget revenues.

ABC.AZ reports that the international agency predicts a decline in country’s budget revenues this year. The agency considers that this year the ratio of Azerbaijan's budget revenues to GDP will decrease by 12.5 percentage points.

The main reason for this is the declining demand for oil and the low price for oil.

It should be noted that Azerbaijan’s State Budget revenues of last year amounted to AZN 24.218 bn and expenditures AZN 24.426 bn.