Azerbaijan predicts increase in state budget revenues for 2022

By Trend

The revenues of the Azerbaijani state budget for 2022 are predicted to exceed the revenues of previous years, Chairman of the Azerbaijani Chamber of Accounts Vugar Gulmammadov said on Nov. 10 during the discussion of the bill "On the Azerbaijani state budget for 2022" at the meeting of the Economic Policy, Industries and Enterprising Committee of the Azerbaijani parliament, Trend reports.

"Taking into account the changes that are planned to be introduced to the Tax Code and other changes, we think that it is possible to say that there are no risks for tax and customs revenues," Gulmammadov said.

The chairman added that wages are projected as one of the biggest indicators of state budget spending for 2022.

The revenues of the Azerbaijani state budget for 2022, in accordance with the official forecasts, will reach about 26.8 billion manat ($15.8 billion), an increase of 5.4 percent, compared to 2021.

The state budget expenditures are projected at 29.9 billion manat ($17.6 billion).

The state budget expenditure will also grow by 4.7 percent in 2022 compared to 2021.

Thus, a deficit amounting to over 3.06 billion manat ($1.8 billion) is formed in the budget, which is by 1.7 percent less than in the state budget for 2021.