Azernews.Az

By Aynur Jafarova

The Azerbaijani Parliament has approved the draft state budget for 2014, Trend news agency reported on November 22.

Some 102 members of the parliament voted in favor of the document while two voted against it.

Following the discussions, no changes were made to the basic parameters of the draft budget for the next year.

According to the draft budget, revenues of the state budget and the expenses for next year were projected to be 18.384 and 20.063 billion manats respectively.

In 2014, the revenues are expected to be 775 million manats lower than the forecasted figures in 2013, and exceed the actual figures of 2012 by 1.103 billion manats.

The budget deficit is projected at 1.679 billion manats, compared to 691 million manats for 2013 and the actual figure of 135 million manats for 2012.

Revenues of the consolidated budget for 2014 were estimated at 21,986 billion manats which exceeds the forecasted figure for this year by 1.257 billion manats, and the actual 2012 budget performance by 352.5 million manats.

Expenditures will amount to 24,444 billion manats, which is 56 million manats lower than the predicted figure for this year and 5,982 billion manats higher than the actual 2012 budget performance.

The consolidated budget deficit is projected at 2.458 billion manats, making up 4.2 percent of the projected GDP.

The growth of local revenues in the draft budget for 2014 is projected at 11.9 percent -779 million manats. Compared to the actual figure for 2012, the growth of local revenues in 2014 is 46 percent.