Azeri president endorses 2010 budget
Azerbaijani President Ilham Aliyev on Wednesday enacted a law on
enforcing the 2010 state budget.
Next year’s budgetary revenues stand at 10.015 billion manats ($12.5 billion), while expenses amount to 11.264bn manats ($14.08bn). Thus, budgetary deficit is forecast at 1.249bn manats ($1.561bn).
Main sources of revenues include proceeds of the State Oil Fund (SOFAR), the body that holds Azerbaijan’s revenues from crude exports, forecast at 4.915bn manats; Value Added Tax (VAT) contributions are to make up 1.876bn manats; profit tax levied on businesses will fetch 1.096bn manats, and profit tax levied on private individuals - 680 million manats.
As for budgetary spending, state investments account for the greatest share and are expected at 3.549bn manats ($4.436bn). Expenses on education will make up over 1.276bn manats, while those on defense – 1.205bn manats. 1.192bn manats will be spent on social security of citizens, 479.4m manats on healthcare, etc.*
Next year’s budgetary revenues stand at 10.015 billion manats ($12.5 billion), while expenses amount to 11.264bn manats ($14.08bn). Thus, budgetary deficit is forecast at 1.249bn manats ($1.561bn).
Main sources of revenues include proceeds of the State Oil Fund (SOFAR), the body that holds Azerbaijan’s revenues from crude exports, forecast at 4.915bn manats; Value Added Tax (VAT) contributions are to make up 1.876bn manats; profit tax levied on businesses will fetch 1.096bn manats, and profit tax levied on private individuals - 680 million manats.
As for budgetary spending, state investments account for the greatest share and are expected at 3.549bn manats ($4.436bn). Expenses on education will make up over 1.276bn manats, while those on defense – 1.205bn manats. 1.192bn manats will be spent on social security of citizens, 479.4m manats on healthcare, etc.*
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