IMF predicts steady income growth for Azerbaijan until 2024
Baku, Azerbaijan, Sept. 23
By Eldar Janashvili – Trend:
Azerbaijan’s total revenues in 2024 are projected at 33.185 billion manats, which is 7.3 percent more than in 2018, Trend reports referring to a report by the International Monetary Fund (IMF) on consolidated activities of the Azerbaijani government for 2017-2024.
According to the report, it is expected that revenues will slightly decrease in 2020 and then begin to increase by an average of 1.7 percent per year.
In the structure of revenues, tax revenues are expected to reach 13.675 billion manats, which is 12.2 percent more than the results for 2018. Average annual growth is expected at 2 percent.
Azerbaijan’s total expenditures in 2024 are forecasted at 31.726 billion manats, which is 19.9 percent more than in 2018. At the same time, a constant increase in expenses is forecasted from this year, and the average increase in expenses for the year will amount to 3.3 percent.
In the structure of expenditures, current government expenditures are projected at 23.59 billion manats, which is 54.8 percent more than the results for 2018. Average annual growth will be 7.8 percent.
Therefore, it is expected that the total budget balance of Azerbaijan will amount to 1.459 billion manats in 2024.
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