Surplus of Azerbaijan’s consolidated budget exceeds 2B manats

Surplus of Azerbaijan’s consolidated budget exceeds 2B manats

Baku, Azerbaijan, Oct. 14

By Anvar Mammadov – Trend:

Surplus of Azerbaijan’s consolidated budget amounted to 2.327 billion Azerbaijani manats (1.597 AZN/USD on Oct. 14), said the country’s Finance Ministry Oct. 14.

Revenues of the consolidated budget totaled 14.951 billion manats, expenditures – 12.623 billion manats.

Revenues of the state budget amounted to 10.103 billion manats in January-September 2016 compared to the forecast of 12.098 billion manats. State budget expenditures were at a level of 87.5 percent and amounted to 10.622 billion manats, thus, there was a budget deficit of 519.1 million manats.

Revenues through Azerbaijan’s Taxes Ministry totaled 4.926 billion manats, which exceeds the forecast by 0.2 percent. A major part of the revenues, 78 percent, or 3.843 billion manats, accounted for the non-oil sector’s revenues, which is by 10.8 percent more than in January-September 2015.

The country’s State Customs Committee transferred 1.653 billion manats to the state budget that exceeds the forecast by 25.6 percent. The revenues through the State Customs Committee increased by 47.1 percent, or 529.6 million manats compared to January-September 2015.

The State Oil Fund of Azerbaijan (SOFAZ) transferred 3.26 billion manats to the state budget that is by 42.1 percent less than the forecast.

During the nine months of 2016, 4.514 billion manats, or 42.5 percent of the state budget’s expenditures were used for the social sphere (labor compensation fund, pensions, social assistance, food and medical expenses), which is by 9.9 percent, or 406.6 million manats more than in January-September 2015.

About 212.8 million manats were used for the construction and reconstruction of facilities in the spheres of science, education, healthcare, culture, sports and others, 1.151 billion manats – for infrastructure construction in the areas of energy, water and gas supply, transportation, public services and melioration, including 29 million manats for the investment projects’ financing in Nakhchivan Autonomous Republic.

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