By 112 votes "for" and three "against", the Milli Majlis adopted on Friday a draft State Budget of Azerbaijan for 2017.
The state budget revenues are projected at 15 billion 955 million manat (26% of GDP). The reduction compared to the year 2016 amounts to 867 million manat (5.2%).
The budget expenditures are projected at 16 billion 600 million manat (27% of GDP). The reduction compared to 2016 is by 1 billion 895 million manat (10.2%).
The budget deficit will amount to 645 million manat (an increase of 1 billion 28 million manat - 61.4%).
Transfers from the State Oil Fund are projected at 6 billion 100 million manat, AZN 1 billion 515 million or 19.9% less than in 2016.
The share of revenues from the oil sector profits in the budget is 49.2% (AZN 7 billion 855 million). This figure is 14.9% lower than in 2016.
Defense spending is forecast at the level of 2.8 billion manat, which is 16.7% of all budget expenditures. Compared to 2016, it is 2.9% (77 million manat) more.
The cost of maintenance of the Milli Majlis and its staff is increased in comparison with the original version of the project by 850 thousand manat and amounts to 23,939,714 manat.
The GDP growth is projected at 1% and amounts to 61.4 billion manat. The inflation forecast for 2017 is at 7.3%.
The state budget is formed at the rate of $ 40 per barrel of oil. -71D-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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