Azerbaijani parliament ratifies 2019 draft state budget in first reading

AZADİNFORM. The Azerbaijani parliament has ratified the 2019 draft state budget in the first reading. Report informs that the second reading will be held on November 23.

The state budget revenues for 2019 are anticipated at AZN 22,917,500,000, up AZN 768.5 million or 3.5% from 2018. Ratio of revenues to GDP will be 28.0% in 2019.

In the structure of the revenues, AZN 7,316,000,000 or 31.9% will come from the Ministry of Taxes, AZN 11,364,300,000 or 49.6% from SOFAZ transfers, AZN 3,451,600,000 or 15.1% from the State Customs Committee, AZN 785,600,000 or 3.4% from other sources.

The average export price in the estimation of oil revenues is $60.

Expenditures are expected to make up AZN 24,780,100,000, up AZN 1,680,100,000 or 7.3% by contrast to 2018. Ratio of expenditures to GDP will be 30.2%.

Expenditures for education are planned to be AZN 2.275 billion, health expenditures – AZN 1.048 billion, defense spending – AZN 3.038 billion, expenditures for international activity and membership to international organizations – AZN 185.7 million, dotation to the state budget of Nakhchivan Autonomous Republic – AZN 300.4 million.

The upper limit of the budget deficit was set at AZN 1,862,600,000, up AZN 784.8 million or 72.8% from 2017’s deficit, AZN 911.6 million or 95.9% from 2018’s forecasted deficit. The deficit will be covered from privatization, receipts from other sources (internal and external borrowing), remainder of the single treasury account as of January 1, 2019. Ratio of the budget deficit to GDP is expected to make up 2.3%.

Revenues of the consolidated budget for 2019 are forecasted to be AZN 29,724,600,000, up AZN 1,599,900,000 or 5.7% in comparison to the current year, expenditures – AZN 27,372,300,000, up AZN 797 million or 3.0% by contrast to the previous year.

The budget will be adopted in the third reading. 

14.11.2018 14:00 / Hits: 79 / Print
 
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