Azerbaijan, Baku, Sept. 22 /Trend, I.Khalilova/
The income part of Azerbaijan's 2012 state budget is projected at $16.436.4 billion manat, expenses - 16.984.4 billion manat, it is indicated in the draft budget, which was discussed at the Cabinet of Ministers. The growth of budget revenues compared with the forecasts for 2011 is expected to reach 5.67 percent, the expenditure - 6.5 percent.
Budget deficit is projected at 548 million manat, which makes up 1.3 percent of projected GDP for next year.
Drafts of state budget, consolidated budget, as well as the concept of socio-economic development for 2012 and the next three years were discussed Wednesday at a meeting of the Azerbaijani Cabinet of Ministers, held under chairmanship of Prime Minister Artur Rasizadeh. Following the discussions of the budget package, a decision was made to submit it to consideration by the President of Azerbaijan.
According to forecasts of key macroeconomic indicators for 2012, the rate of real GDP growth for the next year is projected at 5.7 percent, non-oil GDP - 8.6 percent, inflation rate - six percent, the oil price on world market was established at $80 per barrel.
Country's GDP is forecasted at $43.5 million manat.
The incomes of 2011 budget are forecasted at 15.554.2 billion manat, an increase of 36.4 percent compared to 2010. By the end of the year, the share of budgetary revenues in GDP is expected to increase to 34.7 percent, which is 7.3 percent more than the actual figure for the last year.
Budget expenditures are projected at 15.941.2 billion manat, with an increase of 35.5 percent compared to 2010.
Budget deficit is projected at 387 million manat, or 0.9 percent of GDP.
Official rate on Sept. 22 is 0.7868 AZN/USD.