BAKU, Azerbaijan, July 24
By Fidan Babayeva - Trend:
Surplus of Azerbaijan’s state budget in the first six months of 2020 amounted to 291.9 million manat ($171.7 million), Trend reports referring to the Ministry of Finance.
According to the ministry, the growth in the state budget surplus against the forecast occurred mainly due to the provision of the state budget by the fiscal authorities (the State Tax Service and the State Customs Committee), exceeding the forecasts of revenues (424.7 million manat or $249.8 million).
During the reporting period, revenues of the consolidated budget amounted to 12.3 billion manat ($7.2 billion), which is 5.2 billion manat ($3 billion) or 29.7 percent less than in the first half of last year.
Meanwhile, expenses of the consolidated budget made up 12.8 billion manat ($7.5 billion), increasing by 1.2 million manat ($710,000) or 10.3 percent compared to the same period of 2018.
Accordingly, deficit in the amount of 513.9 million manat ($302.2 million) was recorded in the consolidated state budget.
---
Follow the author on Twitter: @Fidan_Babaeva