The draft law on the budget for next year sent to the President of Azerbaijan

The Cabinet of Ministers has considered the bill prepared on the state and consolidated budget for 2014. Furthermore, they discussed exemplary figures projected for the next three years.

The document was approved and submitted to the head of state on the base of calculation of $ 100 for each barrel of oil exports, as last year. By law, the draft budget should be submitted by the Office of the President to the Parliament by 15 October.

Prime Minister Arthur Rasizadeh did not rule out the possibility of revising the budget in the event of an increase in world oil prices. Neither in this nor in the following year decline in prices is expected, he said.

The government forecasts GDP growth next year is expected to be higher than 5 %.

Revenues in the state budget for this year was approved at the level of 19 billion 159 million manat and expenditures - 19 billion 850 million manats with a deficit of 691 million manat ( 1.2% of GDP).

According to the Finance Ministry, in January-July budget surplus (positive difference between revenues and expenditures) amounted to 3.6 % of GDP, or 1 billion 147.2 million manat. - 17D-

 

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