BAKU, Azerbaijan, July 23
By Fidan Babayeva – Trend:
The revenues to the state budget of Azerbaijan amounted to 12 billion manat ($7 billion) exceeding the forecasted figures by 338.2 million manat ($198.9 million) in the first half of 2020, Trend reports referring to the Ministry of Finance.
According to the ministry, the state budget expenditures for the reporting period made up 11.7 billion manat ($6.8 billion). Thus, a surplus of 291.9 million manat ($171.7 million) was formed in the budget.
Budget revenues from the State Tax Service under the Ministry of Economy amounted to 4 billion manat ($2.3 billion), exceeding the forecasts by 326.6 million manat ($192.1 million) or 8.9 percent. Of these revenues, 2.9 billion manat ($1.7 billion), or 72.4 percent accounted for the non-oil sector, which is 367.7 million manat (216.2 million) more than in 1H2019.
As earlier reported, in the first quarter of 2020, state budget revenues of Azerbaijan grew by 43.6 percent compared to the same period last year and amounted to 7.8 billion manat ($4.5 billion).
Among the revenues, 2.5 billion manat ($1.4 billion) accounted for the oil sector.
In the first three months of 2020, a surplus of 2.5 billion manat (nearly $1.5 billion) was formed in the state budget of Azerbaijan, which made up 32.7 percent to the budget revenues from January through March.
(1 USD = 1.7 manat on July 23)
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