Amendments and Annexes to 2007 State Budget to be Submitted to Government of Azerbaijan

Business Materials 12 March 2007 20:20

Azerbaijan, Baku / corr. Trend I.Khalilova / The Finance Ministry of Azerbaijan plane to, until 15 April, submit the law "On amendments and annexes to 2007 State budget" to the Cabinet of Ministers of Azerbaijan, the same Ministry stated. The Government of Azerbaijan, plans to accelerate this process due to the absence of the finances in the 2007 State budget to finance the measures on social protection.

After the decision of the Tariff Council of Azerbaijan on increase of the tariffs for the energy resources and communal services, the Government included in the State budget the expenditures on providing subsidies for the agriculture, increasing pensions, salaries and addressed social aid. In order to accelerate the process of increasing the budget forecasts, the Government prepares to submit the project to the Parliament of Azerbaijan, along with the law draft "On implementation of 2006 State budget". It will take place in May 2007 so that the amendments come into force in the second half year.

According to the preliminary calculations, the amendments to the budget forecasts are expected nearly in amount of more than AZN 200 mln.

The revenues of the 2007 State budget have been confirmed at the level of AZN 5 bln 335.7 mln and expenditures - AZN 5 bln 714.7 mln, deficit - AZN 379 mln or 1.7% of GDP.