On February 23, Azerbaijan’s parliament adopted amendments to the state budget to adjust down expected budget revenues based on oil price estimates of as low as $25 per barrel (Azernews.az, February 23). Initially, the State Budget for 2016 projected oil at $50–55/barrel (Trend, September 14, 2015). On January 10, …
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HOPING IN THE PRIVATE SECTOR
Azerbaijan has increased the state budget’s parameters for 2016, despite projected oil prices having decreased by half The fall in global oil prices and the devaluation of the national currency give new urgency to the issue of the Azerbaijani government’s response to these new challenges. The administration ended up adjusting …
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