All macroeconomic indicators grow in Azerbaijan in Jan.-Sept. 2018

All macroeconomic indicators grow in Azerbaijan in Jan.-Sept. 2018

Baku, Azerbaijan, Nov. 13

By Elchin Mehdiyev - Trend:

Growth was recorded on all macroeconomic indicators in Azerbaijan for the first nine months of 2018, Speaker Ogtay Asadov said Nov. 13 at a plenary session of the Azerbaijani parliament.

The state budget of Azerbaijan for 2019 will remain socially oriented, expenditures on healthcare will be increased, he said.

“A perfect budget package has been prepared,” said Asadov. “According to the forecast indicators, economic growth will also continue next year.”

On Nov. 13, Azerbaijani parliament started discussing state budget for 2019.

The agenda of the meeting, which will continue on Nov. 14 and Nov. 15, includes 11 issues.

In particular, the bills "On the state budget of Azerbaijan for 2019", "On the budget of the relevant executive authority implementing social security and protection for 2019", "On the state budget of the Unemployment Insurance Fund for 2019", "On living wage in Azerbaijan for 2019", "On the need criteria in Azerbaijan for 2019" will be put up for discussion. Moreover the meeting participants will discuss amendments to laws "On the estimated expenditures of the Parliament of Azerbaijan for 2019", "On the estimated expenses of the Accounts Chamber for 2019", and a bill about amendments in "Internal Charter of the Milli Majlis of Azerbaijan, approved by law 74-IQ of May 17, 1996", "On the rules of ethical behavior of a deputy of the Parliament of Azerbaijan", "On notary".

The revenues of the 2019 state budget of Azerbaijan are projected at 22.917 billion manats, including centralized revenues at 22.18 billion manats and local revenues at 736.766 million manats, while the expenses are expected at 24.78 billion manats, including centralized expenses at 23.939 billion manats and local expenses at 840.812 million manats.

The forecast for the oil price, indicated in the 2019 state budget for calculating oil revenues, is $60 per barrel.

Some 59.8 percent of the forecast state budget revenues or 13.7 billion manats will account for the oil sector, and 40.2 percent or 9.217 billion manats will account for the non-oil sector.

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