Parliament to consider revision of budget of Azerbaijan

The Azerbaijani Cabinet attributed the growth to the surge of remittances to the budget by the State Customs Committee and the Ministry of Taxes. Both have over-fulfilled the interim target, with the Committee contributing 300 billion manats (roughly 63 million U.S. dollars) in extra collections and the Ministry providing 470 billion manats (99 million U.S. dollars) of additional remittances (in excess of the target).

Budget revenues are expected to rise from the original figure of 9.422 trillion manats (1.936 billion U.S. dollars) to 10.222 trillion manats (2.152 billion manats).

Meanwhile, the expenditures are set to advance up to a higher amount – 1.015 trillion manats (214 million U.S. dollars).

The expenditures – in accordance with the revised scheme – are expected to total 11.016 trillion manats (2.319 billion U.S. dollars). The highest increments are expected in the field of defense expenses (278.5 billion manats or 59 million U.S. dollars), followed by the items of state investments (190 billion manats or 40 million U.S. dollars) and education, health and science (143.3 billion manats or 30 million U.S. dollars).

The expected extra gap of 215 billion manats (45 million U.S. dollars) will be lifted through the issue of short-term T-bills and revenues from the privatization of state property.