Azerbaijani Parliament held an initial discussion on 2016 budget package

For next year, operating costs increased by 11%, capital costs cut by 18%

Baku. 2 October. REPORT.AZ/ Azerbaijan will continue measures to limit public funding in many areas through the promotion of private investment.

Report informs, it was stated by Finance Minister Samir Sharifov at today's joint meeting of the parliamentary committee during the discussion of draft state and consolidated budgets for 2016.

"Revenues are projected at 25.2% of GDP, or 14.566 bln AZN, expenses - in the amount of 28.2% of GDP, or 16.264 bln AZN ", the minister said that in the draft state budget of Azerbaijan for 2016.Compared with the corresponding forecasts for 2015 budget revenues for the next year decreased by 25.1% and expenditures - 22.9%.

The budget deficit is projected at 1.698 bln AZN, which is by 2.17% more than the forecast for 2015.

Although defense expenditure for 2015 projected in the amount of 1.778 5 mln AZN by the end of the year it is forecasted to be 1.760 mln AZN.

Along with this, the state and consolidated budget for 2016 laid down the price of crude oil at 50 USD / barrel, the average annual exchange rate of the US dollar - at the level of 1,05 AZN / USD.

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