Approved Changes to State Budget 2016

Azerbaijani President approved amendments to the budget adopted by Parliament on 23 February.

According to the decree, the revenue part increased to 16 billion 822 million manats and the expenditures -to 18 billion 495 million manats.

The revenue part includes centralized revenues - 16 billion 56 million manats and local revenues - 766.35 million manats, and the expenditures include centralized ones at the level of 16 billion 954 million manats and local expenditures - 1 billion 541 million manats.

The new version of the law will let save the State Oil Fund (SOFAZ) money of $ 1 billion, or 1 billion 615 million manats (26.9% to the originally approved budget).

 Recall, the planned transfers from SOFAZ to the state budget should make 7 billion 615 million manats (45.3% of the total revenues of SOFAZ). The practice is that in May and June, the President signs a decree on the allocation of additional funds from SOFAZ to the state budget.

The state budget deficit will amount to 1.673 billion mantas, the expenditures for servicing the external public debt will be 1.474 billion manats (+ 55.4% to the early edition), and the maintenance of the internal public debt will be 301 million 65 thousand manats.

The expense on the main external debt will amount to 1.139 billion manat, and the payment of interests will make up 334.31 million manats. The payment of principal domestic debt will be 257.44 million manats, and interests will be 43.62 million manats. -17D-