Finance Minister Samir Sharifov noted that revenues of 2015 state budget are forecasted to make AZN 19,438,000,000 (35.5% of GDP), expenditures to make AZN 21,100,000,000 (35.3% of GDP).
Revenues are AZN 1,054,000,000 or 5.7% higher than 2014. The expenditures exceeded this year’s forecasts by AZN 1,037,000,000 or 5.2%.
Most of revenues will come from SOFAZ (AZN 10,388,000,000). Ministry of Taxes will transfer AZN 7,112,000,000, State Customs Committee – AZN 1,590,000.
Budget deficit will make AZN 1,662,000,000.
AZN 1,662,000,000 was considered for financing of state bdget, down AZN 17 mln or 1% from 2014. The financing will be carried out through placement of securities, receipts from privatization and external grants. Budget deficit/GDP ratio will make 2.8%.
Revenues of consolidated budget are predicted to stay at AZN 20,716,800,000 (down AZN 1,269,100,000 or 5.8%), expenditures at AN 25,911,000,000 (up AZN 1,467,100,000 or 6%).
Both revenues and expenditures of budget of Nakhchivan Autonomous Republic are forecasted to make ANZ 366.7 mln, up AZN 16.2 mln or 4.6% from 2014, AZN 24.0 mln or 7% from 2013.Expenditures exceed 2013 by AZN 35.7 mln or 10.8%.
Expenditures of the State Social Protection Fund will make AZN 3,056,300,000, up AZN 127.8 mln or 4.4% from 2014, AZN 468 mln or 18.1% from 2013.
SOFAZ expenditures will increase AZB 1,013,000,000 or 9% to AZN 12,304,800,000.
Consolidated budget deficit for 2015 is AZN 5,194,100,000 (8.7% of GDP).
