BAKU, Azerbaijan, Aug. 4
By Fidan Babayeva - Trend:
State budget revenues of Azerbaijan for 2020 are envisaged in the amount of 24.1 billion manat ($14.1 billion), which is 35.3 percent of the country’s GDP, according to the draft amendments to the law of Azerbaijan ‘On the state budget for 2020’, Trend reports.
According to the country’s Finance Ministry, the state budget revenues are 10.5 million manat ($6.1 million) less compared to the approved forecast for 2020.
The revised tax revenues of the state budget, as well as off-budget revenues of budgetary organizations dropped by 890.5 million manat ($523.8 million), transfers from the State Oil Fund of Azerbaijan (SOFAZ) to the state budget and other state budget revenues increased by 850 million manat ($500 million) and 30 million manat ($17.6 million), respectively.
The revenues of the oil sector increase by 460 million manat ($270.5 million), or 3.4 percent, while the revenues of the non-oil sector decrease by 470.5 million manat ($276.7 million), or 4.4 percent, compared to the approved forecast for 2020.
Transfers from SOFAZ to the state budget amount to 12.2 billion manat ($7.2 billion) or 87.2 percent, while the oil sector transfers 1.79 billion manat ($1.05 billion) through the tax authorities to the state budget.
(1 USD = 1.7 manat on Aug. 4)
---
Follow the author on Twitter: Fidan_Babaeva