S&P Global Ratings announces forecast for Azerbaijan's budget surplus

By Trend

The international credit rating agency S&P Global Ratings expects Azerbaijan's budget surplus to be 3.1 percent of GDP in 2022, Trend reports citing the agency.

According to the agency, the positive balance will be reduced to one percent of GDP in 2023. In 2024, the surplus will be replaced by a deficit, which will amount to 1.1 percent of GDP, and in 2025 – to 1.5 percent of GDP.

Furthermore, Azerbaijan's strong fiscal position will be supported through the high level of liquid assets of the State Oil Fund of the Republic of Azerbaijan (SOFAZ).