At the plenary session of the Parliament on Tuesday, deputies began to debate the bill on the State budget for 2014. The budget revenues for 2014 are provided at 18 billion 384,000,000 manat, and expenses - of $ 20 billion 63 million manat.
In particular, centralized income totaled 14 billion 601 million manat; 5 million local revenues - in 782 , 4 million.
Centralized costs will amount to 18 billion 433 million and 5 manat; local expenditures - 1 billion 629 million manat.
Finance Minister, Samir Sharifov, made a report on the state budget and other laws included in the budget package. "In the structure of the state budget revenue 9 billion 337 million manat are transfers from the Petroleum Fund; 7 billion 102 million manat - from the Ministry of Taxes; AZN 1.5 billion - of the State Customs Committee; 400 million manat - are payments of budget state organizations, other income provided from other sources.
The main part of the budget are industrial and construction costs (6 billion 282 million manat) , government investment ( 6 billion 260 million manat.)
Expenditure on social protection and social guarantees will amount to 2 billion 72 million manta; for public services are provided by one billion 997 million manat, education - 1 billion 653 million manat on defense - 1 637 billion manat, the judiciary and law enforcement costs would amount to one billion 240 million manat.
The budget deficit is provided in the amount of 1 679 billion manat.
The discussions will last for three days, and the Accounting Palace, the head of the Central Bank, and the ministers will make reports. -03D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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