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Parameters of 2018 state budget announced

20 October 2017 08:30 (UTC +04:00)

APA-Economics reports that the revenues of the 2018 state budget will make up AZN 20.127 billion, expenditures AZN 20,905,700,000.

Thus, AZN 778.7 million deficit is expected to emerge in the state budget.

According to decision of the parliament, the centralized revenues were approved at AZN 19,476,329,000, local revenues at AZN 650.671 million, centralized expenditures at AZN 20,181,680,000 and local expenditures at AZN 724.092 million.

Sources of the revenues include tax incomes of individuals (AZN 1.196 billion), profit tax of legal entities (AZN 2.320 billion), VAT (AZN 4.288 billion) VAT on import of goods (AZN 1.705 billion), simplified tax (AZN 380 million), excises (AZN 726 million), excises on import of goods (AZN 172 million), road tax (AZN 91 million), mining tax (AZN 136 million), customs duties (AZN 108 million), tax authorities (AZN 140 million).

As for expenditures, AZN 3,620,257,000 will be spent on state expenses, AZN 2,738,722,000 on defense expenses, AZN 1,329,535,000 on law-enforcement agencies, AZN 2,001,498,000 on education, AZN 740.661 million on health, AZN 2,197,182,000 on social protection and social security, AZN 304.289 million on culture, art, information, physical education and other fields, AZN 457.399 million on housing and utilities, AZN 656.260 million on agriculture, forestry, fishery, hunting and protection of environment, AZN 4,944,376,000 on industry, construction and minerals, AZN 166.791 million on transport and communication, AZN 245.511 million on economic activity, AZN 1,495,203,000 on services which are not included in the main sectors.