Azerbaijan increases revenues and expenditures of 2017 state budget

Azerbaijan increases revenues and expenditures of 2017 state budget
  • Clock-gray 12:44
  • calendar-gray 22 June 2017

Member of committee Vahid Ahmadov told APA-Economics that draft law on amendments to 2017 state budget has been discussed at the meeting.

 

According to the draft law, it’s offered to increase the revenues by AZN 511 million, expenditures by AZN 1 billion: “According to the forecast, Ministry of Taxes will transfer AZN 135 million. Moreover, AZN 76 million is planned to be transferred to the state budget from off-budget revenues. State Customs Committee also will increase the budget transfers. Central Bank’s profit will also be entered the budget. Besides, the financial sanctions we adopted have been tightened and these will cause increase of receipts. Transfers to the state budget are planned to increase thanks to sanctions of traffic police. As for expenditures, certain funds will be allocated to SOCAR and State Social Protection Fund. Moreover, upper limit of external public debt in connection with IBA’s Eurobonds will be increased up to AZN 4.5 billion. The government will allocate AZN 4 billion for restructuring of bank’s liabilities. So, the budget will make up about AZN 1,173,000,000 or 1.8% of GDP. According to the draft law, the base price of the oil will not change”.

 

MP noted that there will be no problem in execution of the state budget.  

 

Revenues of the state budget for 2017 were approved at AZN 16,255,000,000, expenditures at AZN 16,900,000,000 and upper limit of the budget deficit at AZN 645 million.  

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