Most of Azeri budget based on oil

On December 6, 2011 the Azeri parliament adopted the budget for 2012. The overall budget is around USD 25 bln. About 73% of the budgetary revenues will be coming from the oil sector. Around 31% of the investments will be directed to the oil sector. Accordingly the Azeri government will start to invest in developing the non oil sector. The foreign trade turnover will be more than USD 15 bln next year.