Draft budget on “State budget of Azerbaijan for 2012” submitted to the Parliament

Draft budget on state budget of Azerbaijan for 2012 has been submitted to the Parliament, MP, member of Economic Police Committee Vahid Ahmadov told journalists. The draft is expected to be distributed to MPs next week.

Note that, incomes of consolidated budget are considered at the amount of AZN 16,436.4 mln, expenses – AZN 16,984.4 mln, deficit – AZN 548 mln. Next year, revenues from SOCAR are forecasted at AZN 9.9 bln or 60.3% of total budget revenues, from Taxes Ministry – at AZN 5.3 bln (32.3%), from the State Customs Committee – AZN 1.2 bln (7.3%). Other revenues will make 0.1% of total budget receipts.

3.2 bln or 59.9% of total funds via the Taxes Ministry will fall on share on non-oil sector, 2.1 bln or 40% - on oil sector.

The funds via the State Customs Committee are expected to be 5.7% more than 2011 forecasts.

The transfers to the state budget from SOCAR within 2012 will be AZN 700 mln or 7.6% more than 2011.


/APA/