12:31 - 7.11.2017
November 7, Fineko/abc.az. Draft State Budget 2018 is today under discussion of the Azerbaijani MPs.
During the discussion, Ziyad Samedzadeh, the head of the Parliamentary Committee on Economic Policy, Industry & Entrepreneurship, has claimed that the Draft State Budget 2018 was prepared amid growing global risks and the country's government conducted a large-scale work to ensure the transparency and efficiency of the draft law.
"Next year Azerbaijan will mark the 100th anniversary of its independence and this budget will become the budget of the century," Samedzadeh said.
He stressed that the Draft Budget 2018 is the most transparent for the period of Azerbaijan’s independence, given the scale of information provided in the budget.
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In the course of the debate Finance Minister Samir Sharifov stated that revenues of State Budget 2018 are forecasted at the level of $20.127 bn that makes up 29% of country’s GDP.
"Next year the Ministry of Taxes is to transfer AZN 7.907 bn AZN 7.907 bn to the State Budget, the State Customs Committee AZN 2.43 bn and the State Oil Fund of Azerbaijan AZN 9.216 bn," the minister said.
According to Sharifov, the price of oil is set in the State Budget 2018 at the level of $45 that is by 12.5% or $5 more than in the current year.
"State Budget 2018 expenditures will total AZN 20.906 bn (up to 30.1% of country’s GDP). The State Budget deficit is expected to reach thus AZN 778.7 million,” the minister said.
Consolidated budget revenues for 2018 are projected at the level of AZN 23.223 bn and expenditures ZN 26.67 bn.
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