13:43 - 29.06.2018

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June 29, Fineko/abc.az. Milli Majlis is discussing today the correction of State Budget 2018.

Finance Minister Samir Sharifov stated during the discussion that the amendments to the Tax Code and the Law on State Duty were proposed with the purpose to ensure additional revenues to the State Budget.

"The amendments imply reduction in the limit on import of strong drinks and tobacco products without excise tax for personal use. The limit of import of alcoholic beverages in the country was halved from 3 liters to 1.5 liters, and cigarettes was cut 3-fold from 600 to 200 cigarettes," the minister said.

After correction State Budget 2018 revenues are expected to reach AZN 22.1 bn that is by AZN 1.98 bn more than the approved forecast. After the adjustment, country’s budget expenditures will be increased by AZN 2.14 bn up to AZN 23.6 bn that by 3.6% more than the approved forecast. Consolidated budget revenues will amount to AZN 28.86 bn that is by AZN 3.98 bn or 16.5% more than the approved forecast. Consolidated budget expenditures will be increased by AZN 1.6 bn up to AZN 26.537 bn. As a result, the formation of a surplus of the consolidated budget is forecasted at the level of AZN 1.549 bn.