More than half of the revenue of the state budget of Azerbaijan will go through transfers from the Oil Fund

Azerbaijan's state budget revenues for 2014 are projected at 18 billion 384 million manats, more than half of them (50.8 % or 9 billion 337 million manats) - the proportion of transfers from the State Oil Fund Azerbaijan.

As the deputies and reporters were told by the Finance minister Samir Sharifov after discussing in the parliamentary committees the draft budget for 2014, the income from taxes will yield to the income from oil and presumably will make 7 billion 102 million manats. A much smaller contribution to the budget pie will come from the State Customs Committee - 1 billion 510 million manats, and the rest will be other income.

According to the chief financier, the Ministry of Taxes has more reserves to gain at the expense of combating tax evasion and other fiscal measures.

Expenses of the state budget for next year are projected at 20 billion 63 million manats. In their structure, operating costs amount to 10 billion 881 million manats or 54.2 % of total spending. Capital expenditure is proposed to allocate 8 billion 401 million manats , or 41.9 % , service of the domestic and external debt - 781 million manat or 3.9 %.

According to the minister, government capital expenditure for the next year is projected at 6 billion 260 million manats.

The budget deficit will be minus 1 billion 679 million manats , or 2.87 % of GDP. - 17D-