Finance

Finance

Azerbaijani Parliament continues discussions on state budget for 2012 on the level of the committees

16 November 2011 09:45 (UTC +04:00)

According to APA, MPs and officials of government structures attended the discussions.

Minister of Finance Samir Sharifov noted that, performances of January-September, 2011 were taken into consideration.

Sharifov noted that, macroeconomic forecast indexes drafted by Ministry of Finance for 2010-2012 were paid attention during the drawing up of the project. So that the oil price was considered as $80 a barrel. Financing of projects started implementation by 2010 was paid attention.

According to minister, state budget incomes for 2012 is forecasted to be AZN 16,436.4 mln, expenditures â€“ AZN 16,984.4 mln, budget deficit â€“ AZN 548 mln. Incomes/GDP will be 37.8%, up 1 percentage point from 2011.

Ministry of Taxes is expected to transfer AZN 5.1 bln to the state budget. The incomes on regions and cities (excluding Baku) are forecasted to make AZN 410 mln.

Along with this, State Customs Committee will transfer AZN 1.2 bln, State Oil Fund â€“ AZN 9.905 bln.

Share o current expenses rose 3%. Education expenditures will increase by 12.6%, science expenditures â€“ by 7%, defense spending â€“ by 1.2%.

For the first time, AZN 20 mln is planned to allocate for Sate Program on Azerbaijani Youth in 2012-2025.

Incomes and expenditures of Nakhchivan AR for 2012 are forecasted to be AZN 305 mln. 84.5% of expenditures will be formed on the account of dotations from state budget.

Chairman of Chamber of Accounting Heydar Asadov noted that, its organization has submitted recommendation on budget project to Milli Majlis. Generally, the chamber appreciates the budget project.

At present, the discussions on state budget are being continued on the level of committees. Deputies express opinions.