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Azerbaijani Parliament to discuss budget package next week

31 October 2012 11:33 (UTC +04:00)

According to him, the budget package will be discussed at the plenary meeting of parliament.

Touching upon the base price of oil in the state budget Zamadzadeh stressed that, this extent was not risky and within its determination the oil price dynamics was analyzed.

Note that, budget incomes for next year are expected to be AZN 19,810 mln, deficit â€“ AZN 656 mln. Budget incomes will increase by 12.4%, expenditures â€“ by 12.1%.

AZN 11,350 mln or 59.3% of budget incomes will come from State Oil Fund, AZN 6,400 mln or 33.4% - from Ministry of Taxes, AZN 1,380 mln or 7.2% - from State Customs Committee, ANZ 5 mln â€“ from leasing of state property and AZN 19 mln â€“ from other receipts. AZN 3,760 mln or 58.8% of incomes from Ministry of Taxes belongs to non-oil sector. Volume of tax receipts is planned to be 8.3% more than 2012â€™s forecast. Volume of receipts from State Customs Committee will be 15% more than 2012â€™s prediction.

At the same time, AZN 6,915.2 mln or 34.9% makes government investing. The growth rate of government investing is expected to be 19.8%.

Besides, AZN 1,813.6 mln (growth 1.6%) will be spent to social protection and social security, AZN 1,802 mln (52.7%) â€“ to common state services, AZN 1,530.4 mln (1.2%) â€“ to education expenditures, AZN 1,528.6 mln (8.6%) â€“ to defense spending, AZN 1,081.8 mln (12.2%) â€“ to judicial power, law-enforcement and prosecutorâ€™s expenses.