Parliament discusses implementation of state budget

Baku. 31 May. REPORT.AZ/ Draft law on the state budget for 2016 is being discussed today at the plenary session of the parliament.

Report informs, Chairman of parliamentary commission on economic policy, industry and entrepreneurship Ziyad Samedzade said that in conditions of decrease in budget revenues military spending increases.

He noted that timely return of funds has been achieved. Azerbaijan has no problem before foreign countries. It is also very important in maintaining relationships.

Last year's budget was executed by 17 505,7 mln. AZN or 104,1% against 16 822,0 mln. AZN.

Level of revenue performance is the highest since 2008. Budget revenues to GDP ratio was equal to 29.0%.

During the reporting year, the state budget revenues were 7.715 mln AZN more compared with 2015.

The state budget expenditures in 2016 were executed by 17 751,3 mln. AZN against 18 495,0 mln. AZN (743,7 mln AZN or by 96,0% less) which is by 33.2 mln AZN or 0.2% less compared to 2015. Taken with GDP ratio budget expenditures were equal to 29.4% of GDP.

During the reporting year the state budget deficit made 245.604 mln AZN.

According to reports and information proceeds from privatization of the sources of financing the budget deficit made 31,232 mln. AZN, foreign grants - 12.326 mln. AZN, while revenues from domestic and foreign debts made 186.819 mln AZN.