Azerbaijan, Baku, June 1 / Trend A. Akhundov /
A characteristic feature of the Azerbaijani state budget 2012 is a high rate of executed expenditure, chairman of the Parliamentary Committee on Economic Policy Ziyad Samadzade said while discussing the bill on the execution of the state budget -2012 in the parliament on Friday.
In 2012, the expenditure budget was fulfilled by 98.6 percent of the forecast and expenses amounted to 17.417 billion manat or 2.019 billion manat (or 13.1 percent) more compared to 2011.
"The expenses were executed by more than 98 percent in Azerbaijan for the first time," he said. "This testifies to the effectiveness of the financial administration of the country."
He said that Azerbaijan has no problems with the revenue formation in the budget over the last years.
"This creates an opportunity for full and timely implementation of the program costs," he said. "This allows repaying the country's foreign debts. Azerbaijan is a leader not only in the CIS but in the world in terms of this rate."
In 2012, the revenues of the Azerbaijani state budget totaled 17.282 billion manat or 1.581 billion manat, or 10.1 percent more than in 2011. The revenues of the state budget were fulfilled by 101.4 percent.
Samadzade said that the deficit of the Azerbaijani state budget is one of the lowest in the world.
Despite the state budget deficit in 2012 was projected at 638 million manat, it amounted to 135 million manat at the end of last year.
The official exchange rate is 0,7846 AZN/USD on June 1.