Azerbaijan, Baku, 28 April / Trend corr. I.Khalilova / The Finance Ministry of Azerbaijan has proposed to decrease the deficit in the State Budget for 2008 from AZN 1126.4mln to AZN 576.6mln, the State reported on 28 April.
The draft law on amendments and supplements in the Bill on 'State Budget of Azerbaijan for 2008' has already been submitted to Parliament. The draft law is expected to be considered on 2 May.
The project by the Finance Ministry proposes to increase the beneficial part of the budget by AZN 3, 091,5mln from the current AZN 7,392,5mln to AZN 10,484mln and the expenditure by AZN 2,541,7mln from AZN 8,518,9mln to AZN 11,060,6mln.
The increase of budget forecasts is connected with the state plans to finance investment projects and social measures.
The revision of the budget will be carried out due to the increase of income tax from AZN 750mln to AZN 795mln, as well as profit tax from AZN 2.280mln to AZN 2.450mln, remittances from GDP on tax payers from AZN 1.725mln to AZN 1.885mln, GDP collected from imported goods to Azerbaijan from AZN 745mln to AZN 755mln and non-tax benefits - from AZN 203 mln to AZN 218mln.
The transfers from the State Oil Fund of Azerbaijan (SOFAZ) are expecting to be increased from AZN 1.1bln to AZN 3.8bln due to increase of oil incomes. Furthermore, the remittances from paid services of budget organizations are expected to be increased from AZN 136mln to AZN 137.5mln.
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