Government offers to reduce Azerbaijan’s budget deficit to 770.3 million manat
Azerbaijan, Baku, June 16 / Trend /
The Azerbaijani Government offers to reduce the current year's state budget deficit from 3.9 percent to 2.3 percent of GDP. Amendments to the budget have been discussed and recommended for adoption at a meeting of the Economic Policy Committee of the Azerbaijan Milli Mejlis (Parliament) June 11.
As a result of the amendments the budget deficit will be reduced from 1,249 billion to 770.3 million, the Finance Minister Samir Sharifov said. According to the amendments, budget revenues will increase by 1.49 billion manat to 11,505 billion.
"The income growth from the Ministry of Taxes of Azerbaijan is expected at the level of 490 million manat. Plan for the Ministry increased to 4.47 billion manat," Sharifov said.
Transfers from the State Oil Fund of Azerbaijan will increase by 1 billion manat to 5.915 billion manat.
According to Sharifov, budget expenditures will increase by 1,011 billion manat to 12,275 billion manat.
As a result of budget adjustments, the oil price set in the public budget, increased from $ 45 to $ 60 per barrel.