For the first time in its history, Azerbaijan budget 2012 has allotted 22 billion dollars but it is expected to see a deficit of $800 million. The allocation for the upcoming fiscal is 0.5 percent more than the sum earmarked for 2011 fiscal.
Azerbaijan Budget 2012 – Economic Steps:
The 2012 state budget of Azerbaijan is expected to earn revenues of 16.438 billion Manat or 21.88 billion US dollars.
Its expenditures are supposed to run up to AZN17.07 billion. It will look to reduce the deficit to AZN634 million or $806 million.
The Azerbaijan government is expected to earn revenues from privatization and this sum will be used to cover the deficit.
The government will also procure debt from external and internal sources. It will also sell various securities outside the country. These will be used for covering the budgetary shortfall.
Azerbaijan will receive financial aid from other countries and generate revenues from the paid services of institutions that are backed by the budget.
These earnings will also be used for covering the deficit.
The balance of finances accrued from the previous budgets will also be used to deal with the fiscal shortfall.
The revenues for 2012 fiscal will be 882.2 million Manat more than the 2011 budget.
This will be 5.7 percent more than the previous fiscal. The expenses are supposed to increase by AZN 87.6 million.
Azerbaijan Budget 2012 – Administrative Steps:
The government has allotted an additional amount of 671,000 Manat for meeting parliamentary expenses. This will include costs incurred in equipment, using the internet and travel.
The national administration will use AZN 1.4 million for paying the housing expenses of reserve servicemen.
The Council for State Assistance to NGOs will be provided an extra amount of 1 million Manat. This will take their aggregate allocation for 2012 to AZN 2.7 million.
The municipalities will be provided with a supplementary amount of 1.5 million Manat taking their total allocation to AZN 5 million.
100,000 Manat will be employed for inter-parliamentary cooperation for dealing with domestic violence.
AZN 70 million will be used to pay the increasing salaries of staff funded by the budget. This sum will also be used for helping with the increases in minimum wages, utilities and housing expenses. The merger of a couple of local authority bodies will be financed with this fund as well.
Azerbaijan Budget 2012 – Estimations:
The government is expected to earn approximately 15.938 billion Manat from the centralized budget. The local budgets are expected to contribute AZN 499.389 million.
The national government is supposed to spend 15.779 billion Manat as its centralized expenses. The local expenditure is supposed to amount to AZN 1.29 billion.
It is expected that in 2012 on an average 1 US dollar will be worth 0.79 Manat. On the basis of this, the government is supposed to spend 20.808 billion dollars and spend $21.6 billion, which will take the deficit to 0.8 billion dollars.
Azerbaijan Budget 2012 – Healthcare Steps:
Approximately 61 million Manat will be used for transferring healthcare and cultural facilities that are operated by SOCAR, a publicly held oil organization. These facilities will now be handled by the health, tourism, and culture ministries.
The healthcare sector will be allotted an additional amount of 63.3 million Manat.
Azerbaijan Budget 2012 – General Expenses:
Following are the additional amounts allocated to various sectors:
Education AZN 7.1 million
Basic states expenses – AZN 4.2 million
Culture AZN 4.6 million
Communications and transport AZN 3.9 million
Social security AZN 4.2 million
Defense AZN 1.381 billion