Azerbaijani state budget’s 1H17 incomes exceed forecast by 2.3% (UPDATE)
Details added (first version posted on 20:33)
Baku, Azerbaijan, July 14
Incomes of Azerbaijan’s state budget amounted to 7,722.8 million manats in the first half of 2017, exceeding the forecast by 2.3 percent, said the Ministry of Finance.
Compared with the same period last year, incomes of Azerbaijan’s state budget increased by 25.9 percent or by 1,589 million manats.
Meanwhile, the state budget expenditures amounted to 8,193.9 million manats (the forecast was executed by 100.2 percent).
Compared with the same period last year, the state budget expenditures increased by 20.1 percent (1,372.4 million manats).
The deficit of the state budget amounted to 471.1 million manats.
The state budget incomes from the Azerbaijani Ministry of Taxes amounted to 3,353 million manats, which is by 2.5 percent more than the forecast figure and by 5.1 percent (162.9 million manats) more than in the same period last year. Of this, 71.7 percent (2,404.4 million manats) accounted for incomes from Azerbaijan’s non-oil sector.
The state budget incomes from the State Customs Committee of Azerbaijan amounted to 1,169.2 million manats, which is 11.9 percent more than the forecast figure and 17.5 percent or 173.8 million manats more than the incomes in the first half of 2016.
In addition, in January-June 2017, 151 million manats entered the state budget from chargeable services of the organizations funded from the state budget, which is by 18.6 percent (23.7 million manats) more than in the same period last year and 58.6 million manats accounted for other incomes.
The State Oil Fund of Azerbaijan (SOFAZ) transferred 2,991 million manats to the country’s budget, which is by 59 million manats less than the envisaged volume.
During the first half of 2017, 42.7 percent or 3,499.9 million manats of expenditures of the state budget accounted for social costs, which is 18.3 percent or 541.4 million manats more compared to the same period 2016.
In January-June 2017, the expenditures of Azerbaijan’s consolidated budget amounted to 11,507.1 million manats, while its incomes were 11,606.1 million manats. The surplus of the consolidated budget was 99 million manats.