Azerbaijan’s Consolidated Budget to Have Surplus in 2008
Azerbaijan, Baku / Trend corr I. Khalilova / In compliance with the 2008 public budget project approved by the Azerbaijan Cabinet, incomes will increase by 27.9% compared to 2007 making up AZN 7.383bln (28.2% of VAT) and the expenditures will rise by 34.7% comprising AZN 8.509bln, according to the Azerbaijan Finance Ministry.
AZN 5bln is expected to be received from taxes (17.9% or AZN 760mln increase) and AZN 1.1bln from the State Customs Committee (42.9% or AZN 330mln increase). Transfers from the State Oil Fund will amount to AZN 1.1bln and AZN 279mln will be received from other sources.
Current expenditures will amount to AZN 4.737bln or 53.7% of the total expenditures. Main expenditures will account for AZN 3.688bln (43.3%). Payment of credits and interest rates will comprise AZN 84mln (1%).
The specific weight of society-targeted expenditures will rise by 26.5% compared to 2007 (AZN 584mln) comprising AZN 2786.6mln (32.7%).
The public budget deficit will make up AZN 1.126bln, which is 4.3% of VAT.
The consolidated budget is planned to total AZN 10.508bln (39.5% increase) and expenditures AZN 10.184bln (27.7% increase). Correspondingly, consolidated budget surplus is expected to amount to AZN 324mln.