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State budget approved

8 December 2015 16:36 (UTC+04:00)
State budget approved

By Aynur Karimova

Azerbaijani President Ilham Aliyev approved several laws, including the law "On state budget for 2016"on December 7.

Under the law, the budget revenues for the next year are projected at 14.566 billion manats ($13.872 billion), including centralized revenues - around 13.8 billion manats ($13.143 billion), local revenues - around 766.346 million manats ($730 million), while budget expenditures - at 16.264 billion manats ($15.49 billion) , including centralized expenditures - around 14.723 billion manats ($14.02 billion) and local expenditures - over 1.541 billion manats ($1.47 billion).

The upper limit of the budget deficit was approved in the amount of 1.698 billion manats ($1.617 billion), and the upper limit of the consolidated budget expenditures - at around 19.957 billion manats ($19 billion).

The deficit of the consolidated budget of Azerbaijan for 2016 (excluding revenues of the State Oil Fund), is set at the level of around 9.948 billion manats ($9.47 billion).

On the same day, President Aliyev approved a law "On budget of the State Social Protection Fund for 2016."

The revenues and expenditures of the fund for the next year are approved at the level of around 3.079 billion manats ($2.932 billion).

A law "On subsistence minimum for 2016" was also approved by President Aliyev.

According to the law, subsistence minimum for 2016 in Azerbaijan is set at 136 manats ($129.5), for able-bodied population - 146 manats ($139), for pensioners - 115 manats ($109.5), and for children - 117 manats ($111.4).

In 2015, subsistence minimum amounted to 131 manats ($125), for able-bodied population - 140 manats ($133.3), for pensioners - 108 manats ($103), and for children - 108 manats ($103).

Under the other law approved by the Head of State, the level of need criterion for determining social assistance is defined in the amount of 105 manats ($100).

The official exchange rate on December 8 was 1.05 AZN/USD.

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Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova

Follow us on Twitter @AzerNewsAz

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