BAKU, Azerbaijan, May 24. The deficit of the state budget of Azerbaijan was 55.4 percent less than predicted in 2022, Trend reports.
This was noted in the "Annual Report on the Implementation of the State Budget of the Republic of Azerbaijan for 2022", which was discussed at the meeting of the Committee of the Milli Majlis (Parliament) of Azerbaijan on Economic policy, Industry and Entrepreneurship.
Although the upper limit of the state budget deficit for 2022 was approved in the amount of 3.1 billion manat ($1.8 billion), the actual deficit amounted to 1.3 billion manat or $764.7 million (by 1.7 billion manat ($999.9 million), or 55.4 percent less than the projected figure).
The state budget deficit is 1.0 percent of the actual GDP of 2022, which is 2.8 percentage points less than the projected limit. Financing of the budget deficit was carried out at the expense of attracted external loans under signed projects (259.7 million manat o $152.7 million), internal and external debt (976.3 million manat or $574.2 million), privatization of state property (115.4 million manat or $67.8 million) and the balance on the single treasury account (33.6 million manat or $19.7 million).
A significant reduction in the deficit compared to the projected indicators occurred due to tax and customs revenues to the state budget, which significantly exceeded the projected amount, as well as due to the economical execution of state budget expenditures.