Forecast on Azerbaijani state budget expenditure for 2019 to exceed $14.7B
BAKU, Azerbaijan, Oct. 23
The forecast state budget expenditures for 2019 will reach over 25.1 billion manat ($14.8 billion), Trend reports referring to the governmental source.
The transfers to the state budget from the State Oil Fund of Azerbaijan for 2020 are envisaged in the amount of over 11.3 billion manat ($6.6 billion) or 47 percent of all budget revenues.
Some 3.5 percent of revenues to the state budget will be ensured through extra-budgetary revenues of budgetary organizations, 0.3 percent - other income in accordance with the forecasts.
Over 10.3 billion manat ($6.05 billion) (an increase of 33.5 percent) in the structure of expenditures is planned to be allocated for social purposes, which makes up 38.5 percent of state budget expenditures.
Over 17.2 billion manat ($10.1 billion) comprising 64.2 percent of state budget expenditures will account for current expenses, while over 7.8 billion manat ($4.6 billion) – 29 percent of expenses – account for capital expenses in accordance with the forecasts.
The cost of public debt service will amount to over 1.8 billion manat ($1.06 billion) or 6.8 percent of state budget expenditure. Cost of public debt service will be reduced by 21.7 percent compared to 2019.
The state budget deficit for 2019 is projected at 2.22 billion manat ($1.3 billion) or 2.5 percent of GDP.