Azerbaijani Parliament approves 2017 budget package

Baku. 16 December. REPORT.AZ/ 2017 budget draft has been approved by Milli Majlis (Azerbaijani Parliament).

Report informs, minister of finance Samir Sharifov told that proposals made during discussions of 2017 state budget and summary draft of budget for next 3 years were analyzed and some expenditures were raised, maintaining macroeconomic stability.

Provision of funds for some projects was settled. 3 mln AZN additional funds will be allocated to cultural sphere. Expenditures for maintenance of Milli Majlis increased by 850 thousand AZN. Allocation for Youth Fund was proposed to be kept on the same level as this year. Taking into account budget targets in 2017, overall reduction of the budget, we don’t consider reduction of Youth Fund as a serious problem”, the minister added.

Incomes and expenditures of State Social Protection Fund of the Ministry of Labor and Social Protection of the Population are forecasted at 3 400.0 mln AZN.

Living minimum in 2017 has been determined at 155 AZN, the need criterion at 116 AZN.

3.812 mln AZN is allocated to Chamber of Accounts in 2017 state budget, which is 0.8% more than that in 2016.

23 089 714 AZN is allocated for maintenance of Milli Majlis and its apparatus in the budget, which is 394 784 AZN or 1.74% more than the amount allocated in 2016.

Notably, after amendments, incomes of state budget for 2017 amount 16.255 bln AZN, expenditures – 16.904 bln AZN.

6.1 bln AZN will be transferred from State Oil Fund to the state budget, which is 1.515 bln AZN or 19.9% more than transfers in 2016.

In state budget for next year the oil prices are envisioned at 40 USD/barrel.