Azerbaijani state budget's 12-percent deficit may be covered by revenues from privatization in 2011

Business Materials 24 May 2011 10:46 (UTC +04:00)

Azerbaijan, Baku, May 24/ Trend, A.Akhundov /

A Bill on amendments to the law on the Azerbaijani state budget for 2011 envisages reducing the share of state budget deficit in the country's GDP from 1.7 to 0.9 percent, the ratio to budget revenues - from 5.7 to 2.5 percent, Accounting Chamber's conclusion on the bill says.
The upper limit of the state budget deficit is set at $387 million manat compared to 687 million built in the approved budget for 2011 (a decline at 300 million manat).
On Monday, the Parliamentary Committee on Economic and Social Policy recommended a Bill on amendments to the law on the Azerbaijani state budget for 2011 for discussion at the country's parliament, which is expected on May 27.
According to the conclusion, in the amended draft budget for 2011, financing of the budget deficit is planned through the revenues from privatization (35 million manat), from external and internal borrowings, including through the placement of securities (200 million manat), incomes from paid services of organizations financed from the state budget (152 million manat), and at the expense of the remnants as of Jan.1, 2011 in the single treasury account of state budget (703,400 manat).

The official exchange rate is 0.79 manat to $1 on May 24.