Review of structure of expenditure of Azerbaijani state budget in 2019

Review of structure of expenditure of Azerbaijani state budget in 2019

BAKU, Azerbaijan, May 20

By Eldar Janashvili – Trend:

The expenditure of the Azerbaijani state budget amounted to 24.4 billion manat ($14.3 billion) in 2019 compared to the forecasted figure of 25.2 billion manat ($14.8 billion), Trend reports referring to the report of the Azerbaijani Ministry of Finance on budget execution in 2019.

This figure is by 7.5 percent or 1.7 billion manat ($1 billion) more compared to 2018.

The share of state budget expenditure in GDP in 2019 amounted to 29.9 percent, which is 1.5 percent more than in 2018.

In the structure of the state budget expenditure for 2019, 13.5 million manat ($7.9 million) or 55.4 percent relate to the current expenses (by 1.9 billion manat that’s $1.1 billion or 17.1 percent more than in 2018), 9.4 billion manat ($5.5 billion) or 38.4 percent - to the main expenses (430.6 million manat that’s $253.3 million or 4.8 percent more than in 2018), and 1.5 billion manat ($882 million) or 6.2 percent accounted for the expenses related to servicing public debt and obligations.

The share of the current expenditure in state budget expenditure increased by 4.6 percent, the share of capital expenditure - by one percent, and the share of expenditure related to public debt decreased by 3.6 percent compared to 2018.

In the structure of state budget expenditure for 2019, according to the economic classification, 7.3 billion manat that’s $4.3 billion or 30.1 percent of expenses account for the acquisition of non-financial assets (four percent more than in 2018); five billion manat that’s $2.9 billion or 20.5 percent - for payment of labor (growth by 13 percent); 3.8 billion manat that’s $2.2 billion or 15.7 percent - for the purchase of goods, work and services (8.5 percent more than in 2018); 2.1 billion manat that’s $1.7 billion or 8.8 percent - for scholarships and social benefits; 3.1 billion manat that’s $1.8 billion or 12.6 percent for other expenses, in particular rent and services, overhaul of the housing stock, various facilities and roads, bank expenses and reserve funds (an increase of 56.9 percent compared to 2018); 1.1 billion manat that’s $647 million or 4.6 percent - for financial transactions on liabilities; 1.4 billion manat that’s $823 million or 5.8 percent - for subsidies and current transfers (17.6 percent more than in 2018); 401.5 million manat that’s $236.2 million or 1.6 percent - for interest payments; 62.5 million manat that’s $36.8 million or 0.3 percent - for grants and other payments; and 0.6 million manat that’s $0.3 million - for operations on financial assets.

The execution on extra-budgetary expenses of the organizations which are financed from the state budget amounted to 573.1 million manat ($337.1 million) in 2019, which is 133.5 million manat ($78.5 million) or 30.4 percent more than in 2018.

Some 300.4 million manat ($176.7 million) was allocated from the budget of Azerbaijan’s Nakhchivan Autonomous Republic for the centralized state budget expenditure for 2019.

A total of 7.8 million manat ($4.6 million) was allocated from the budget to municipalities (local self-government bodies), including subsidies worth 4.7 million manat ($2.8 million) to regulate their income and expenses, subsidies worth 2.1 million manat ($1.2 million) related to the operation and services of water supply and subventions worth one million manat ($588,235) in 2019.

(1 USD = 1.7 AZN on May 20)

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