Azernews.Az

The implementation of the state budget forecasts over the last few years testifies to the fact that the actual level of Azerbaijan's budget deficit in 2013 will not reach one percent, chairman of the Accounting Chamber Heydar Asadov said while discussing the draft state budget for 2013 and the next three years at a joint meeting of the five parliamentary committees on Tuesday.

"International organizations and the IMF consider the formation of the budget deficit at one percent in the world, especially in European countries, as a positive fact, and recommend the countries to examine the ways to pass to a self-supporting budget in the future," Asadov said. "Azerbaijan's budget deficit is projected at 1.17 percent, but there is a cautious approach if one pays attention to the sources of financing the deficit."

The budget deficit has been forecasted at the level of 656 million manat (1.17 percent of GDP) compared to 634 million manat (1.2 percent of GDP) forecasted for 2012, he said.

The official exchange rate is 0,7849 AZN/USD on Nov. 6.