Azerbaijani Finance Ministry sees no need for fiscal adjustment
Azerbaijan, Baku, April 8 / Trend A.Akhundov /
The Ministry of Finance of Azerbaijan does not see the need to adjust the 2013 budget's forecast figures.
This was said by the Minister of Finance Samir Sharifov to Trend on Monday.
"There is no necessity in fiscal adjustment," Sharifov said.
According to forecasts, budget revenues are approved at the level of 19,159 billion manat, expenses - 19.85 billion manat, deficit - 691 million manat. Transfers from the State Oil Fund to the state budget are provided at the level of 11.35 billion manat. Azerbaijan's state budget for 2013 is calculated on the price of oil at $100 a barrel.
In January- February 2013, actual income to the state budget's revenue totaled 3, 202 billion manat (38.4 percent of GDP), or 29.4 percent more compared to the same period last year.
State budget expenditures increased by 2.2 times and amounted to 2, 89 billion manat (34.7 percent of GDP). The budget surplus in two months amounted to 308.9 million manat, or 3.7 percent of GDP. Compared to the same period last year, it has reduced 3.8-fold.
The official exchange rate on April 8 is 0.7846 AZN / USD.