Azerbaijani state budget for 2012 to be amended (UPDATED)

Business Materials 24 May 2012 10:16 (UTC +04:00)

First version was published at 09:58

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

Azerbaijani state budget for 2012 will be amended, in the Ministry of Finance stated on Thursday.

Under the changes, budget revenues and expenditures will increase by 600 million manat and amount to 17.038 billion manat and 17.672 billion manat, respectively.

The main reason for adjusting the budget projections is providing additional funding in accordance with the instructions of the President to cover the damage to the population and socio-economic infrastructure of Zagatala, Gakh and Balaken areas in the north-west of the country caused by the earthquake.

Furthermore, additional funds will be directed to complete the works to eliminate the effects of large-scale disaster in the territory of Sabirabad and Salyan district in the result of Kura and Araz rivers overflow, torrential rains, floods and rains in some parts of the country (Saatli, Imishli, Neftchala, Hajigabul, Shirvan , Zyardab, Kurdamir, Salyan, Sabirabad, Shamakhi), as well as the purchase of special purpose vehicles and equipment for the adoption of preventive measures and to prevent possible disasters and emergencies and to implement the relevant measures in landslide areas in a number of areas of Baku and so forth.

It is planned to increase revenues to the state budget through additional tax revenues on oil and non-oil sectors of the economy.

President Ilham Aliyev presented the bill on amendments to the state budget for 2012 to the Parliament of Azerbaijan.