State Budget Approved

The Head of State has approved the eve of the Law "On State Budget for 2015". Under the law, the income part of the main piggy country is projected at 19 438 million manat (including centralized revenues - 18,603,462,000 AZN, local revenue - 834.538 million manat), expenses - 21.1 billion manat (including centralized expenditures -19,446,050,000 manat and local expenditures - 1,653,950,000 AZN).

Judging by the figures, the upper limit of the budget deficit will amount to 1.662 billion manat. Sources of financing the deficit are the proceeds of privatization, securities, foreign grants, as well as the balance of the treasury account of the state budget on January 1, 2015.

Income from the State Oil Fund will be 10 388 mln. manat (+ 11.3% compared with expectations for 2014), the Ministry of Taxes - 7,112 mln. manat (0.1%), the State Customs Committee - 1.59 billion. manat (+ 5.3%), from the lease of land on which there are state property. Privatized enterprises and objects give 7 million manat profit (+ 40%), extra-budgetary revenue budget organizations - 300 million manat, other income - 41 mln. manat.

In the structure of budgetary expenditures on military spending will be allocated 1 778 500 000 manat (+ 8.6%), public investment will increase by 10.7% - up to 6,930 mln. manat, costs in industry and construction - 10, 7% - up to 6 951 600 000 manat. Increase in spending on education was 3.5% - up to 1 711 200 000 manat, health - 7.2% - up to 777.7 million manat. Spending on science is expected in the amount of 150.5 million manat and spending on the prosecutor's office, court and law enforcement agencies will be +1.1 percent to 1 227.1 million manat, etc.

Special novelty item note in the allocation of money for social protection and social security - on these items is projected to decrease costs by 1.5% - up to 2 040.5 million manat. --17D-