Bill on State Budget 2013 introduced into Milli Majlis
Baku, Fineko/abc.az. The Bill on State Budget 2013 has been introduced into Milli Majlis (parliament of Azerbaijan) and was published in accord with regulations of legislation.
Under the bill, the budget for 2013 was proposed by the President of Azerbaijan with revenues of AZN 19.15 bn and expenditures of AZN 19.8 bn. At that, centralized revenue was suggested in the amount of $18.457 bn with local earnings of AZN 696.6 million and expenditures of AZN 18.298 million and AZN 1.5 million respectively.
The President offered to establish a transfer from the State Oil Fund (SOFAZ) to the state budget at the level of AZN 11.35 bn, and transfer from the state budget to the budget of the State Social Protection Fund at AZN 1.077 bn. Defense spending is proposed at the level of AZN 1.528 bn and investment at AZN 6.915 bn.
The Presidential Reserve Fund of the State Budget is proposed to determine at the level of AZN 347 million, and the reserve fund of the State Budget itself at the level of AZN 343 million. As a result, the total amount of the reserve fund will be AZN 690 million and exceed the budget deficit proposed in the amount of AZN 656 million. It is offered to finance the budget deficit at the expense of privatization and external borrowing (including the placement of government securities abroad). Other sources of budget deficit coverage are called balance of finances on a single treasury account of the state budget as of 1 January 2013 and foreign grants.
Tags: State Budget
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