Azerbaijani Parliament Passes Public Budget for 2008

Business Materials 30 November 2007 15:52 (UTC +04:00)
Azerbaijani Parliament Passes Public Budget for 2008

Azerbaijan, Baku / Trend corr I. Khalilova / On 30 November, the Azerbaijani Parliament passed the draft of the public budget for 2008, which was increased by AZN 9.9mln.

According to the Azerbaijani Finance Minister Samir Sharifov both income and expediture part of the budget was rectified. The income was increased from the previously predicted AZN 7.383bln to AZN 7.392.9bln, and expenditure from AZN 8.509bln to AZN 8.518.9bln.

The necessity to increase the revenue to the budget was due to changes in the Tax Code and the Administrative Violations Code. Additional revenue is expected to be received through fines and financial sanctions which will be applied from violation of the tax legislation and the traffic system. Moreover, non-budget revenues are expected to be received from state organizations as a result of passing the Law on Insurance and other legislative acts.

Through the non-budget revenues it is planned to increase expenses from the public budget to improve materials and the technical basis of state organizations and to improve labour conditions for their staff.

The expenditure part of the budget also was amended. Expenses will be cut by AZN 80.5mln and the funds will be used to finance the recently passed legislative acts and events envisaged in presidential decrees.

The public budget will allot additional funds in the sum of AZN 1.6mln for parliamentary expenses.

Expenses for public utilities increased by AZN 8.2mln, for maintenance of law-enforcement and judicial bodies - AZN 9.6mln, for maintenance of legislative, executive bodies and municipalities - AZN 6.3mln, for culture, art, science, health, education, information - AZN 3.4mln, for transport, communications, agriculture, forestry, fishing, environmental protection - AZN 1.5mln, other categories related to state service - AZN 1.5mln. At the same time expenses dropped for industry, construction, natural resources - by AZN 18.5mln, and the expenses not related to main services - by AZN 2.1mln.

As a result of the changes, the maximum limit for the budget totalled 0.192bln.