The European Bank for Reconstruction and Development (EBRD) has renewed the forecast of Azerbaijan’s total budget deficit for 2021, TurkicWorld reports citing the EBRD report on Nov. 16.
The deficit of the Azerbaijani total budget will reach 1.8 percent of GDP this year.
According to the Azerbaijani draft state budget, the budget deficit will reach six percent next year or 5.2 billion manat ($3.05 billion) of the projected GDP.
Moreover, the International Monetary Fund (IMF) expects Azerbaijan's total budget deficit to decline to 1.8 percent of GDP in 2021. The surplus is projected to reach 0.7 percent of GDP in 2022.
