State budget revenues for the first years of independence, reduced

President Ilham Aliyev presented on the 7th of October the draft state budget to the Parliament. In 2014, the revenues of the state budget for the first time since the acquisition in 1991 of the state independence will be reduced by 4%. It can be assumed that the government next year will not go on increasing salaries to state employees.

In 2014, the government forecasts revenues of the state budget at 18 billion 384 million manats, or 775 million manat less than expected performance for the current year. The expenditure of the state budget is planned in the amount of 20 billion 063 million manats. Compared to the expected performance of the state budget for 2013 (19,850 bn) expenses for 2014 will increase by 213 million or 1.1%.

The state budget deficit in 2014 will grow compared to this year by about 1 billion manat , reaching 1,679 million manat. 

In 2014, transfers from the State Oil Fund of the state budget will be reduced compared to this year by more than 2 billion manat (17.7%) to 9,337 million manat. It is noteworthy that excluding transfers from the State Oil Fund revenues of the state budget are forecast to increase 15.9 % (+ 1,238 mln).

The share of non-oil sector in 2014 will be 6,245 million manat, which is 1,076 million or 20.8 % higher than the figure for 2013. The Ministry of Taxes will provide the state budget with AZN 7.1 billion (+11%), and the State Customs Committee - AZN 1,510 mln (+9.4 %). - 08D-