Baku, Azerbaijan, Sept. 1
Trend:
The draft state and consolidated budgets-2016, the consolidated budget indices for the further three years, including the concept of socio-economic indices for 2016 and the next three years were first discussed in the Azerbaijani Cabinet of Ministers under the chairmanship of Prime Minister Artur Rasizade Sept.1.
The draft state budget-2016 was worked out taking into account the achievements and the positive rates of development achieved as a result of the recent economic policy carried out by Azerbaijani President Ilham Aliyev, including the recent global financial and economic processes in the world, Rasizade said during the meeting.
While working out the draft, the social direction of the state budget was taken as a basis.
Special attention was paid to constantly improve the well-being of the population of the republic, to ensure the country's national defense strength and national security and to develop the non-oil sector.
Azerbaijani Finance Minister Samir Sharifov and Minister of Economy and Industry Shahin Mustafayev delivered speeches.
Following the discussions held in the extended format in accordance with the law "On Budget System", it was decided to submit a set of documents included in the budget package to the president of Azerbaijan.
Revenues of the state budget for 2015 were approved in the amount of 19.438 billion manats, expenses - 21.1 billion manats. Budget forecasts are formed at an oil price of $90 per barrel.
In the first half of 2015, the actual income in the revenue part of the state budget of Azerbaijan amounted to 7.81 billion manats, which is 16.4 percent less than the same period last year, according to the ministry of finance. Budget expenditures amounted to 8.58 billion manats with a 1.7 percent decrease. The budget deficit amounted to 770.9 million manats (2.9 percent of GDP), while in the same period last year, the budget was executed with a surplus of 615 million manats.
The official exchange rate on September 1 is 1.0479 AZN/USD.
Edited by CN