Social mortgage coverage to expand in Azerbaijan
By Sara Israfilbayova
Azerbaijan’s draft state budget for the next year provides for the allocation of 162 million manats ($95.29 million) to provide the population with housing on preferential terms.
Azerbaijani Finance Minister Samir Sharifov made the remarks at a joint session of parliamentary committees on November 6.
“There are plans to allocate additional funds to improve the living conditions of military personnel, families of war victims and IDPs,” the minister said.
The family members of war victims, national heroes, IDPs, civil servants with at least a three years’ experience, teachers of secondary schools with at least a five-year service term, PhDs, doctors of science and those having special merits in sport as well as the military with at least a three-year service term can use the preferential mortgage conditions.
Each family having the right to such a mortgage loan can use it only once.
The revenues of the state budget for 2019 are forecasted at 22.92 billion manats ($13.48 billion), that is 768.5 million manats ($452.06 million) or 3.5 percent more.
In the structure of revenues, 7.316 billion manats ($4.303 million) or 31.9 percent will come from the Taxes Ministry, 11.364 billion manats ($6.68 billion) or 49.6 percent from SOFAZ transfers, 3.45 billion manats ($2.03 billion) or 15.1 percent from State Customs Committee’s transfers, 785.6 million manats ($462.12 million) or 3.4 percent from other sources.
Expenditures are expected to make up 24.78 billion manats ($14.58 billion) up 1.68 billion manats ($988.23 million) or 7.3 percent.
Expenditures for education are planned to reach 2.275 billion manats ($1.39 billion), health expenditures – 1.048 billion manats ($616.47 million), defense spendings – 3.038 billion manats ($1.79 billion), expenditures for international activity and membership to international organizations – 185.7 million manats ($109.23 million).
Revenues of the consolidated budget for 2019 are forecasted at 29.72 billion manats ($17.48 billion), up 1.6 billion manats ($941.18 million) or 5.7 percent in comparison to the current year, expenditures –27.37 billion ($16.1 billion) , up 797 million manats ($468.82 million) or 3.0 percent.
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Sara Israfilbayova is AzerNews’ staff journalist, follow her on Twitter: @Sara_999Is
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