BAKU, Azerbaijan, Dec.22
By Fidan Babayeva – Trend:
Revenues from the oil sector to the state budget of Azerbaijan for 2021 are forecasted to make up over 13.7 billion manat ($8.1 billion) or 54.2 percent of total revenues, Trend reports referring to the Ministry of Finance.
According to the ministry, this figure is 214 million manat ($125.9 million) or 1.5 percent less compared to this year.
“The revenues from the oil sector in 2021 will be 171.4 million manat ($100.8 million) or 1.3 percent more than in 2019,” the ministry said.
As reported, next year, out of the total amount of revenues to the state budget, 12.2 billion manat ($7.2 billion) will account for transfers from the State Oil Fund of Azerbaijan (SOFAZ), and over 1.5 billion manat ($930 million) - from the tax authorities.
From January through September 2020, SOFAZ had transferred over 8.8 billion manat ($5.2 billion) to the state budget within the forecasted amount.
During the reporting period, revenues of Azerbaijan’s state budget amounted to 17.9 billion manat ($10.5 billion) in the first nine months of 2020 and exceeded the forecasted figure by 1.2 percent or 206.5 million manat ($121.4 million).
The state budget expenditures for the reporting period amounted to 18.6 billion manat. Thus, a deficit of 677.6 million manat ($398.5 million) has appeared in the budget.
(1 USD = 1.7 manat on Dec.22)
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