Finance

Finance

Azerbaijani parliament adopts 2014 budget package - UPDATED

Azerbaijani parliament adopts 2014 budget package - <span style="color: red;">UPDATED

22 November 2013 09:49 (UTC +04:00)

APA-Economics reports that parliamentarians adopted the laws on “2014 state budget of the Republic of Azerbaijan”, “Living wage for 2014 in the Republic of Azerbaijan” and “Necessity criteria for 2014 in the Republic of Azerbaijan”, expenditure estimate for 2014 of the Azerbaijani Parliament and Azerbaijan’s Chamber of Accounts and law on “2014 budget of the State Fund of Social Protection of the Republic of Azerbaijan”.

Azerbaijan’s Minister of Finance Samir Sharifov said draft state budget was widely discussed at the meetings of the parliament’s committees. Minister said next year’s budget is a balanced budget and will serve the development of the country.

Incomes of Azerbaijan’s state budget for 2014 make AZN 18.384 bln, expenditures – AZN 20.063 bln, upper limit of budget deficit – AZN 1.679 bln.

Incomes and expenditures of the State Social Protection Fund’s budget for 2014 are to be AZN 2,928,452,000.0. AZN 1.780 bln of incomes will make state compulsory social insurance premiums, AZN 1.142 bln – transfers in the state budget. AZN 2,788.619 mln or expenditures will be directed to pensions.

In accordance with the relevant law, the subsistence minimum will make AZN 125 across the country, AZN 136 for working population, AZN 103 for pensioners, AZN 103 for children.

Limit of need criterion is approved at AZN 100 for determination of targeted social assistance.