Reasons for possible revision of Azerbaijan's state budget named

Baku, Azerbaijan, March 15

By Ilkin Shafiyev - Trend:

There are objective reasons in Azerbaijan for revision of the 2018 state budget following results of the first quarter of 2018, Azerbaijani MP Rufat Guliyev told Trend.

"The revision of the state budget is a normal process. This time, reasons may be the rise in energy prices, growth of the non-oil sector of the economy, and activities in transport projects. Usually, the first quarter is an indicator of the budget implementation for the whole year. Given that the tasks have been successfully implemented, one can assume that the budget deficit for the year will be less than expected, or the budget will be executed without a deficit, "Guliyev said.

Earlier, Chairman of the Parliamentary Committee on economic policy, industry and entrepreneurship Ziyad Samedzade said that the 2018 state budget of Azerbaijan may be revised.

He said that this may happen after summarizing the first quarter of 2018.

Revenue part of the state budget for 2018 is forecast to total 20.127 billion Azerbaijani manats (including centralized revenues in the amount of 19.473 billion manats, local revenues in the amount of 653.353 million manats), while expenditures are expected to amount to 21.047 billion manats (including centralized expenditures in the amount of 20.323 billion manats, local expenditures in the amount of 723.925 million manats).

(1 USD = 1.7 AZN on March 15)

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