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Azerbaijan prepares forecasts of state budget for 2012 and next three years

Business Materials 29 January 2011 13:42
The Azerbaijani Cabinet of Ministers issued a decree on ensuring the timely submission the projects of the state budget, the concept of socio-economic development and the forecast indices for 2012 to the president of the country, the Cabinet of Ministers said.
Azerbaijan prepares forecasts of state budget for 2012 and next three years

Azerbaijan, Baku, Jan. 29 / Trend N. Ismayilova /

The Azerbaijani Cabinet of Ministers issued a decree on ensuring the timely submission the projects of the state budget, the concept of socio-economic development and the forecast indices for 2012 to the president of the country, the Cabinet of Ministers said.

The projects of Azerbaijan's state budget and the consolidated budget for 2012 and the next three years should be submitted to the Cabinet of Ministers no later than September 15, 2011.

The Ministry of Economic Development must submit the concept of socio-economic development for 2012 and a consolidated fiscal balance for the next three years, as well as other documents stipulated by law to the Cabinet of Ministers by September 10.

The Ministry of Finance must submit the proposals to establish the state commissions on formation of income and expenditure items of the state and consolidated budgets within one month to the Cabinet of Ministers.

The State Statistics Committee must submit primary statistics fata for 2010 till February 5 to clarify the medium-term economic and social programs for the current year to the Ministry of Economic Development and Ministry of Finance, as well as statistical data to the ministry of finance, the ministry of economic development and the ministry of taxes to prepare the socio-economic concept of country , the project budget and total financial balance for the next year and the next three years.

The Ministry of Taxes, the State Customs Committee and other bodies ensuring budget revenues should propose amendments to legislative acts to the Cabinet of Ministers to ensure implementation of the budget for 2012 no later than March 1, 2011

The State Social Protection Fund and the State Oil Fund must submit the first draft of their budgets for 2012 for the next three years until March 15 and the updated version - till July 1 to the Ministry of Economic Development and the Ministry of Finance.

Primary indices of the Azerbaijani draft state budget for 2012 and the next three years (revenue, expenditure and deficit) must be developed by the Ministry of Finance and presented to the Ministry of Economic Development until April 10, and the updated version - until September 5. The Ministry of Economic Development should provide the Ministry of Finance with the primary version of the concept of development and forecast figures till March 1 and the updated version - till August 1.

The Ministry of Transport, in coordination with the Ministry of Finance, should submit the preliminary version of the targeted budgetary fund Roads to the Ministry of Economic Development till March 15.

The order came into force on January 28, 2011.

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