Azerbaijan State Budget for 2014: Brief Description

Azerbaijan State Budget for 2014: Brief Description

The Main Trends for the Azerbaijan State Budget for 2014 are followings: it is a first time in the last decade that the State Budget incomes will decrease in 2014; transfers from State Oil Fund to The State Budget will be decreased by 17.7% or 2.013 billion manat ($ 2, 58 billion US); it is the first time that the share of budget deficit will increase to 3% in GDP; the dependence of the State Budget on the oil sector, will decrease from 75,0 % to 66, 0%; the share of non-oil sector revenues in the State Budget will increase by 9,0 %; because of reduction in oil revenues, income tax amounts will decrease in the State Budget; the share of social expenses in the State Budget will increase 3.9%; the share of salary payments in the State Budget expenses will increase to 24,0%; there will not any increasing on salaries in the organizations which financed by the State budget, pensions and other social expenses; it is first time that essential state investments will be decreased.

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