Factors determining the revision of the state budget for 2022 and macroeconomic forecast indicators have been identified.

APA reports that this is reflected in the draft law "On amendments to the Law of the Republic of Azerbaijan" On the state budget of the Republic of Azerbaijan for 2022 ".

According to the project, in the state budget for 2022, oil revenues are projected to exceed the approved figure by 2040.0 million manat, non-oil revenues by 1534.3 million manat and the state budget will receive an additional 3574.3 million manat.

A number of necessary measures, such as further strengthening the defense and security of the state in 2022, accelerating the reconstruction and reconstruction of the occupied territories and ensuring food security, form a financial need of 2985.7 million manat to the state budget.

Financing of this demand at the expense of additional revenues and available reserves of the state budget creates a need to revise the state budget in accordance with the Law on Budget System.

Following the revision of the state budget, financing the above-mentioned expenditure needs in accordance with the upper limits set by the Decree of the President of the Republic of Azerbaijan No. 1637 of March 28, 2022 on the target indicators of the budget rule (consolidated budget non-oil base deficit and public debt) It is intended:

- Due to additional non-oil revenues - 1351.1 million manat;

- Due to additional oil revenues - 847.5 million manat;

- Due to changes in the state budget (increase of funds allocated for financing the state budget liabilities and regulation of other expenses in order to balance the budget of the State Social Protection Fund) - 560.8 million manat;

- AZN 181.0 million due to the balance of the “Roads” Target Budget Fund for the beginning of 2022 related to non-oil revenues and AZN 2.3 million due to the balance of the “State Fund for Environmental Protection”;

- Due to domestic borrowing as a source of financing the expanded state budget deficit - 43.0 million manat.

At the same time, the part of the transfer from the State Oil Fund to the state budget in the amount of 1192.5 million manat is offset by additional oil revenues from the state budget and the transfer is reduced accordingly, which will further increase the assets of the State Oil Fund.

Given that a significant part of the budget expenditures to be increased by the revision of the state budget is investment-oriented expenditures and the impact of these expenditures on economic growth, the real growth rate of non-oil GDP is 5.5 percent, including 115.4 billion manat of GDP. -Oil GDP is expected to increase to 65.7 billion manat.

Average annual inflation is projected at 12.5 percent.