3% budget deficit will be financed by grants from EU

Baku. 28 December. REPORT.AZ/ EU grant proceeds to finance the state budget deficit in 2017, 20.0 mln AZN.

Report informs referring to the 2017 state budget approved by the President.

The upper limit of the state budget deficit has been approved at 645.0 mln AZN.

Its financing without privatization will be made from income from other sources (internal and external borrowing, balance of the single treasury account of the state budget as of January 1, 2017) total of 625.0 mln AZN, proceeds from the EU grant (20.0 mln AZN)

The upper limit of domestic debt for the year 2017 approved at 1 000.0 mln AZN, external public debt - 500.0 mln AZN, the maximum limit of the state guarantees has been approved at 10 000.0 mln AZN.

Notably, 2017 state budget revenues approved at 16 255,0 mln AZN, expenditures - 16 900.0 mln AZN (including centralized income 15 634,706 mln AZN, domestic revenues - 620.294 mln AZN, centralized expenses 16 211,286 mln AZN, local costs - 688.714 mln AZN).