2013 Budget Package at the Azerbaijani Parliament

2013 Budget Package at the Azerbaijani Parliament

Azerbaijan’s budget project for 2013 will be discussed at the meeting of Economic Policy Committee, said the Committee Chairman Ziyad Samadzade.

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

Touching upon the base price of oil in the state budget Samadzade 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 19,810m, deficit – AZN 656 m Budget incomes will increase by 12.4%, expenditures – by 12.1%.

AZN 11,350m or 59.3% of budget incomes will come from State Oil Fund, AZN 6,400m or 33.4% – from Ministry of Taxes, AZN 1,380m or 7.2% – from State Customs Committee, ANZ 5 mln – from leasing of state property and AZN 19 mln – 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 2012’s forecast. Volume of receipts from State Customs Committee will be 15% more than 2012’s prediction.

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

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

Note; 1 AZN= 1,25 USD

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