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Azerbaijan may revise 2017 state budget
30 September 2016
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Risks on changes to occur in the external environment may affect 2017 state budget through two important channels – more weakening of economic activity in the partner countries and increase of interest rates in the international financial markets.
The economic activity in the world and partner countries is forecasted to normalize gradually in the mid-term perspective. Otherwise, the forecasts on economic growth and non-oil revenues will be lower than expected. Increase of the interest rates in the international financial markets may increase the expenditures in the budget for the Southern Gas Corridor project planned to be funded by external borrowings. If unfavourable conjuncture is formed in the international financial markets, the state budget may be revised in order SOCAR to pay liabilities to be generated on the Southern Gas Corridor.
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