State budget’s revenues, expenditures announced

The state budget of Azerbaijan for 2019 was the plenary session of the parliament on November 27.

MPs made opinions and proposals on the budget. After discussions, a bill on state budget was put to a vote, and adopted in the second reading.

Revenues of the state budget of Azerbaijan for 2019 are projected at 23.168 billion manats, expenses 25.19 billion manats. The budget deficit will amount to 2.022 billion manats, which is equal to 2.5 percent of GDP.

Revenues of the Azerbaijani state budget for 2019 will increase by 1.1 percent or 251 million manats compared to the initial forecast, Azerbaijani Minister of Finance Samir Sharifov said at a parliamentary meeting. The minister added that the state budget expenditure will increase by 1.7 percent or 410 million manats compared to the initial forecast.

He said that the share of expenditure relative to GDP will increase by 0.7 percent and will reach 30.7 percent compared to 2018.

The forecast for the price of oil pledged in the 2019 state budget to calculate oil revenues is $ 60 per barrel.

Bills on the subsistence minimum and the level of need criterion were submitted for discussion in the second reading.

According to the draft law "On the subsistence minimum in Azerbaijan for 2019", this criterion for the country for next year will be set at 180 manats, for the working-age population - 191 manats, for pensioners - 149 manats, for children 160 manats.

The cost of living for 2018 was set at 173 manats, for the able-bodied population - 183 manats, for pensioners - 144 manats, for children 154 manats.

In addition, the criterion of need for the targeted social assistance will be set at 143 manats.