BAKU, Azerbaijan, April 27. State budget revenues increased significantly in the first quarter of 2023, Trend reports via the press office of the Ministry of Finance of Azerbaijan.
The growth amounted to 2 billion manat ($1.1 billion), or 74.8 percent - up to 4.8 billion manat ($2.8 billion) through the State Tax Service.
"Through the State Customs Committee, the growth amounted to 313 million manat ($184 million), or 25.4 percent, and the State Property Service - by 1.5 million manat ($8,823), or 23.4 percent. Additionally, the state budget's income from organizations that charge for their services increased by 33.3 million manat ($19.5 million), or 20.2 percent, while the revenues from other sources increased by 16.3 million manat ($9.5 million), or 20.2 percent. Some 1.1 billion manat ($6.4 million) were transferred from the State Oil Fund (SOFAZ) to the state budget," the Finance Ministry said.
There was a 1.7 billion manat ($1 million) surplus in the state budget in the first quarter of 2023. A total of 8.2 billion manat ($4.8 billion) were received in state budget funds, while 6.5 billion manat ($3.8 billion) was spent.
Non-oil sector income to the state budget totaled 4.4 billion manat ($2.5 billion) from January through March 2023, or 53.4 percent of the total state budget revenue.
According to the ministry, the oil industry contributed 3.8 billion manat ($2.2 billion) to the state budget.