MP: State Budget revenues and expenditures for 2023 to be increased

18:10 - 25.05.2023

May 25, Fineko/ The Draft State Budget for 2022 was discussed at MIlli Majlis and recommended for consideration at the plenary session. The goal here was to discuss the situation with the execution of the budget last year and at the same time the work carried out in this direction.

The execution of the State Budget for 2022 is closed, and the report also confirms that last year it was possible to achieve fiscal goals and, thus, there was an increase in State Budget revenues. Budget revenues from tax revenues exceeded the forecast by 32%.

ABC.AZ reports that MP Vugar Bayramov stated about this.

He noted that the State Customs Committee managed to attract about 31% more funds to the budget than predicted: "Therefore, there was an increase in budget revenues not only in the oil sector, but also in the off-budget sectors. This also indicates compliance with major budget commitments in 2022, as well as forecasts. At that, as can be seen from the report for 2022, the macroeconomic results were also successful, as GDP grew more than predicted, and GDP growth also occurred due to the non-oil sector, not just oil. This is also one of the important points. GDP in Azerbaijan already exceeds AZN 130 bn. This is a sufficient figure. In this regard, the results of the macroeconomic results of 2022 on budget execution are positive. At the same time, this creates prerequisites for increasing revenues in this direction, as well as for revising and adjusting the State Budget for 2023. I think in the near future the parliamentarians will also be submitted a draft on simplification. It is expected that the revenues and expenditures of State Budget 2023 will be increased. In particular, it is planned to allocate more funds for periodic directions."