Minister of Finance of the Republic of Azerbaijan Samir Sharifov made a business visit to the Islamic Republic of Pakistan, the United Arab Emirates (UAE) and India on February 19-21***As of January 1st, 2018, the external public debt of the Republic of Azerbaijan constituted 9,398.3 million US dollars (equivalent 15,978.1 million manat). The Debt to the Gross Domestic Product ratio stands at 22.8 percent (based on 2017 GDP of AZN 70,135.1 mln)******

Draft law discussed regarding amendments to the state budget for 2017

Draft law discussed regarding amendments to the state budget for 2017

23.06.2017

A draft law on amendments to the state budget for 2017 was discussed at the meeting of the committee on economic policy, industry and entrepreneurship of the Milli Majlis on 22 June 2017.
Presenting the draft law for discussion, minister of finance Mr. Samir Sharifov highlighted the necessity for revision of expenditures of the state and consolidated budgets for 2017 in relation with continuation of measures on the strengthening of social protection of the population, ensuring the sustainability of the bank and financial system, regulation of internal and external obligations of the country and fulfillment of other state obligations.
As a result of the amendments, incomes of the state budget will reach 16,766.0 million manat increased by 511.0 million manat, while its expenditures will be increased by 1,041.0 million manat making 17,941.0 million manat.
After the relevant amendments, incomes of the consolidated budget for 2017 are intended to make 22,840.9 million manat, which is 2,820.2 million manat or 14.1 percent more compared to the approved budget.
Expenditures of the consolidated budget for 2017 are envisaged to reach 29,818.2 million manat increased by 3.7 percent or 1,051.0 million manat more compared to the approved indicator.
The draft law acclaimed at the meeting of the committee on economic policy, industry and entrepreneurship is expected to be put to discussion at the plenary session of the Milli Majlis due to take place on June 30.