ADB: Azerbaijan can keep budget deficit at range of 1-2% this year

Baku. 15 March. REPORT.AZ/ The Asian Development Bank (ADB) forecasts oil prices at 56-57 USD/barrel in the global market this year.

Report informs, Azerbaijan Country Director for ADB Nariman Mannapbekov said.

N.Mannapbekov also spoke about the loan in the amount of 500 mln USD, allocated in 2016 for diversification of Azerbaijan's economy: "The credit contributed to reduce budget deficit by 0.5% in 2016, which is much lower than forecasted in February of last year".

ADB official said that in 2017, the government may keep the budget deficit in the range of 1-2%. He also commented on the removal of Azerbaijan from the Extractive Industries Transparency Initiative (EITI) and said that expressed support for continuation of the discussions.