BAKU, Azerbaijan, July 16
Trend:
Azerbaijan’s state budget revenues have exceeded the forecasts in the first half of 2020 despite COVID-19, said Azerbaijan’s Minister of Finance Samir Sharifov, Trend reports.
He made the remarks during the meeting of the Cabinet of Ministers dedicated to the results of socio-economic development in the first quarter of 2020 and future objectives held July 15.
“Despite the adverse impact of the external shocks on Azerbaijan’s economy as a result of the COVID-19 pandemic – first of all, lower consumer demand and consequent decrease in the price of oil and oil products – the budget revenues have exceeded the forecasts,” said the minister.
The state budget revenues exceeded the forecasted figures by 2.9 percent or 338 million manat and stood at 12.23 billion manat, he explained.
Budget revenues from the State Tax Service under the Ministry of Economy and the State Customs Committee exceeded the forecasts by 327 million manat or 8.9 percent and by 98 million or 5.1 percent, respectively.
Sharifov noted that during the reporting period, all state tasks, social programs and projects to be financed by the state budget have been fully implemented.
Social expenditures accounted for 42.5 percent or 4.984 billion manat of total budget expenditures (11.734 billion manat) in the first six months of 2020, added the minister.
Budget expenditures on healthcare rose by 75.8 percent or 287 million manat as compared to the same period of 2019, education – 53.5 percent or 517 million manat, social protection and social security – 13.2 percent or 196 million manat, agriculture and environmental protection – 85.3 percent or 260 million manat.