The Azerbaijani parliament approved the bill on the 2019 state budget at a plenary meeting on Nov. 30.
Chairman of the Parliamentary Committee for Economic Policy, Industry and Entrepreneurship Ziyad Samadzade stressed that the state budget fully meets Azerbaijan’s interests and will allow carrying out economic reforms and improving the social situation of the population.
The revenues of the Azerbaijani state budget for 2019 are projected at 23.168 billion manats, expenses at 25.190 billion manats. The budget deficit will amount to 2.022 billion manats, which is equal to 2.5 percent of GDP.
The state budget revenues will be generated through the revenues from the Taxes Ministry worth 7.316 billion manats, the State Customs Committee - 3,702.6 billion manats, transfers from the State Oil Fund of Azerbaijan - 11.364 billion manats. Revenues from other sources are expected to reach 785.6 million manats.
The forecast for the oil price, indicated in the 2019 state budget for calculating oil revenues, is $60 per barrel.
(1.7 AZN = 1 USD on Nov. 30)
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