Azerbaijan reveals state budget revenues for seven months

Finance Materials 21 August 2020 19:30 (UTC +04:00)
Azerbaijan reveals state budget revenues for seven months

BAKU, Azerbaijan, Aug. 21

By Nargiz Ismayilova - Trend:

The deficit of the state budget of Azerbaijan amounted to 182.4 million manat ($107.3 million) from January through July 2020, Trend reports citing the report of the State Statistical Committee.

A nominal volume of the gross domestic product of Azerbaijan in the reporting period made up slightly over 40 billion manat ($23.5 billion).

During the first seven months of this year, revenues of the country’s state budget surpassed 13.9 billion manat ($8.1 billion), which is 12.1 percent more compared to the same period of last year.

As reported, the expenditures of the state budget rose by 7.6 percent over the year, exceeding 14.1 billion manat ($8.3 billion).

For 2020, the state budget’s revenues were forecasted at 24.1 billion manat ($14.1 billion), while expenses – at nearly 26.9 billion manat ($15.8 billion).

The state budget’s deficit is forecasted to be 2.76 billion manat ($1.6 billion) this year or 3.3 percent of the GDP.

In 2019, Azerbaijan’s state budget revenues amounted to 24.2 billion manat ($14.2 billion) or 104.5 percent of the forecast, which is 1.7 billion manat ($1 billion) or 7.6 percent more compared to 2018.

(1 USD = 1.7 manat on Aug. 21)


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