Azerbaijani President Ilham Aliyev has passed the bill on the budget for 2012, ABC reports.
The state budget was approved with an income of 16.438 billion manats and expenditure of 17.072 billion manats. The deficit limit of the budget is 634 million manats. The budget deficit will be covered by income from privatization, loans, services in budget organizations, foreign grants and leftovers of funds from previous budgets on January 1, 2012.
Centralized income will total 15938.61 million manats, local – 499.389 million manats. Centralized expenditure will total 15779.16 million manats, local – 1292.84 million manats.
According to the forecasted currency rate ($1 = 0.79 manats), budget income in 2012 will total $20.808 billion, expenditure - $21.61 billion, deficit - $0.803 billion.
