Non oil revenue of Azerbaijani state budget to exceed 20 per cent in 2014

Business Materials 10 October 2013 16:16 (UTC +04:00)

Azerbaijan, Baku, October 10/Trend, A. Akhundov/

Some 50.8 percent, or 9.3 billion manat of Azerbaijan's state budget revenue will be comprised of transfers from the country's State Oil Fund in 2014, the state budget project for 2014 publicized by the Finance Ministry reads.

Some 38.6 per cent of the revenue, or 7.1 billion manat will be transferred through the Ministry of Taxes, 8.2 percent or 1.5 billion manat through the State Customs Committee, 2.2 percent or 0.4 billion manat from the paid services of budgetary organizations, 0.2 percent from other revenues.

Transfers from the State Oil Fund will decrease by 2.013 billion manat or by 17.7 per cent in 2014 compared to the prognosis of 2013.

In total, the state budget revenues from the non-oil sector will increase by 1.076 billion manat or by 20.8 percent compared to the prognosis of 2013 and will amount to 6.245 billion manat. In 2014, non-oil revenues will exceed the actual figures of 2012 by 1.6 billion manat or by 34.5 per cent.

Some 39.5 percent of tax revenues, or 2.8 billion manat, will be insured by the oil sector, 60.5 per cent or 4.3 billion manat by the non-oil sector.

In total, revenue from the Ministry of Taxes will exceed the anticipated figures of 2013 by 702 million manat, or by 11 per cent and the actual figures of 2012 by 1 billion manat or 17.9 per cent in 2014.

Revenues from the State Customs Committee will exceed the anticipated figures of 2013 by 130 million manat or 9.4 per cent and the actual data of 2012 by 301.7 million manat or 25 percent.

The official exchange rate for October 10 is 0.7844 AZN/USD.