BAKU, Azerbaijan, April 28. A total of 2.28 billion manat ($1.34 billion) or 59.2 percent of tax transfers to the state budget of Azerbaijan in the first quarter of 2023 fell on the oil sector, the Ministry of Finance of Azerbaijan told Trend.
According to the ministry, 1.57 billion manat ($920 million), or 40.8 percent fell on the share of the transfer from the State Oil Fund.
"More than 1.5 billion manat ($880 million) of oil revenues fell on profit tax from the sale of petrochemicals from the Shah Deniz field, 513.1 million manat ($301.8 million) - on the share of other taxes paid by the State Oil Fund, and 225.2 million manat ($132.4 million) - on the share of taxes of the Azerbaijan International Operating Company," the ministry added.
The surplus of the state budget in the first quarter of 2023 amounted to 1.7 billion manat ($1 billion).
During the reporting period, the state budget revenues amounted to 8.2 billion manat ($4.8 billion), while its expenditures reached 6.5 billion manat ($3.8 billion).
Meanwhile, the state budget revenues obtained from the non-oil sector reached 4.4 billion manat ($2.5 billion), which is 53.4 percent of the total state budget revenue, while the state budget revenues for the oil sector totaled 3.8 billion manat ($2.2 billion).