Azerbaijani parliament adopts revised state budget for 2016
Baku, Azerbaijan, Feb. 23
By Azad Hasanli - Trend:
Azerbaijani parliament at the plenary session on Feb. 23 has adopted amendments to the country's state budget for 2016.
In accordance with the amendments, the adjusted state budget revenues are expected at 16.822 billion manats (AZN), which is 15.5 percent more than the approved forecasts. Expenditures of the state budget are projected at 18.495 billion manats. The state budget deficit will amount to 1.673 billion manats.
The official exchange rate on February 23 is 1.5612 AZN/USD.
In the revenue part, the forecasted income from the non-oil sector will amount to 7.597 billion manats, or 45.2 percent, which is 4.8 percent more than the approved budget's index.
Revenues through the line of the Azerbaijani ministry of taxes are projected at 7.01 billion manats, which is 6.2 percent more than the approved budget's index and 1.5 percent less than operational indices for 2015.
The adjusted expenditure part of the country's state budget provides for additional 1.29 billion manats for social events. Thus, the share of socially oriented state budget expenditures increased by 1.7 percent - to 37.8 percent.
Proceeds through the line of the State Customs Committee of Azerbaijan are expected at 1.8 billion manats, which is 220 million manats more than the approved indices. Revenues from other income are projected at 75 million manats, which is 21 percent more than the approved forecast.
Revenues of Azerbaijan's adjusted consolidated budget for 2016 are expected at 15.738.6 billion manats, which is 981.5 million manats, or 5.9 percent less compared to the approved budget.
Azerbaijan's state and consolidated budget parameters were adjusted based on oil price of $25 per barrel.