BAKU, Azerbaijan, Jan. 15
By Eldar Janashvili – Trend:
Azerbaijan's consolidated budget for 2019 was made up with a surplus of 1.86 billion manat, Trend reports on Jan. 15 referring to Azerbaijani Finance Ministry's report.
The consolidated budget revenues for 2019 amounted to 33.8 billion manat ($19.8 billion), exceeding the forecast by 4.6 billion manat that’s $2.7 billion (15.7 percent), while budget figures for 2018 - by 2.9 billion manat that’s $1.7 billion (9.4 percent).
The expenses were approximately within the forecast and amounted to 26.48 billion manat ($15.6 billion), while the planned amount was 27.58 billion manat ($16.2 billion).
The budget was executed with a surplus of 7.3 billion manat ($4.3 billion) thanks to higher oil prices during the year. The price of a barrel of oil in the budget for 2019 was set at $60, but the real average price was higher in 2019.
The revenues of the state (non-consolidated) budget last year amounted to 24.2 billion manat, exceeding the forecast by 1.03 billion manat (7.5 percent).
The expenses amounted to 24.4 billion manat ($14.3 billion) in 2019, which is 1.67 billion manat that’s $1 billion (7.4 percent) less than the forecast. In the structure of expenses, more than half (55.3 percent) accounted for current expenses, amounting to 13.5 billion manat ($7.9 billion), 38.5 percent or 9.4 billion manat ($5.5 billion) - for capital investments. Some 6.2 percent (1.5 billion manat) that’s $882.3 million was directed to servicing the state debt and external obligations of the country.
The revenues are projected at 27.552 billion manat ($16.2 billion) while expenditures are projected at 29.488 billion manat ($17.3 billion) in the budget for 2020. The budget has been made up with a deficit of 1.936 billion manat ($1.1 billion).
(1 USD = 1.7 AZN on Jan. 15)
---
Follow the author on Twitter: @eldarjanashvili