Fitch: Azerbaijan’s consolidated fiscal deficit to account for 6.8% of GDP

Fitch: Azerbaijan’s consolidated fiscal deficit to account for 6.8% of GDP
  • Clock-gray 14:08
  • calendar-gray 18 July 2020
"Fitch Ratings" forecasts Azerbaijan’s consolidated fiscal balance to turn into a deficit of 6.8% of GDP in 2020 (implied fiscal break-even oil price of USD 50.7/b), from a surplus of 9% in 2019, APA-Economics reports.
The agency also predicts that the government debt to rise to 23% of GDP at end-2020, but return to 19% of GDP by 2022.
It should be noted that in 2019 the country’s consolidated fiscal surplus made up 7.343 billion manat or 9% of GDP, while the government debt amounted to 15.455 billion manat or 18,9% of GDP.
Recall that the International Monetary Fund projected Azerbaijan’s consolidated fiscal deficit to reach 12,8% of GDP this year.

Mirsaid İbrahimzade

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