Azerbaijan parliament adopts draft 2018 state budget
Baku, Azerbaijan, Dec. 1
By Anvar Mammadov – Trend:
The Azerbaijani parliament adopted the draft state budget for 2018 at its plenary session on Dec. 1.
In the draft budget, the revenues of the Azerbaijani state budget for 2018 are forecast at 20.127 billion manats (including centralized incomes of 19.476 billion manats and local incomes of 650.671 million manats) and expenditures at 21.047 billion manats.
The uppermost limit of deficit of the state budget is forecast at 920 million manats.
About 9.216 billion manats of the state budget revenues account for SOFAZ transfers.
Revenues from the value added tax (VAT) are forecast at 4.288 billion manats (including 1.705 billion manats of VAT from imported goods), revenues from income tax – at 2.320 billion manats, revenues from individual income tax – at 1.196 billion manats, revenues from excise tax – at 726 million manats (including 172 million manats of excise tax for goods imports), customs revenues – at 535 million manats, revenues from simplified tax – at 380 million manats, revenues from subsoil use tax – at 136 million manats, revenues from highway use tax – at 91 million manats.
Budget forecasts are based on an oil price of $45 per barrel.
(1.7001 AZN = 1 USD on Dec. 1)