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Budget revenues in Azerbaijan may rise due to revenues from state property rent

Finance Materials 11 January 2021 09:43
Budget revenues in Azerbaijan may rise due to revenues from state property rent

BAKU, Azerbaijan, Jan.11

By Zeyni Jafarov – Trend:

Azerbaijan's revenues in the current year's budget may increase through rent of state property, given the budget execution indicators for 2020, the Accounts Chamber stated in its opinion for the country’s 2021 state budget, Trend reports.

According to the chamber, the draft state budget of Azerbaijan for 2021 envisions proceeds from the rent of state property to make up 11 million manat ($6.47 million), which is 3 million manat ($1.76 million) or 37.5 percent more than the last year’s forecast.

As reported, the excess of the forecasted figure for 10 months of 2020 on revenues from the above source was due to collecting 7.3 million manat ($4.3 million) from renting land under privatized state enterprises and facilities, topping the forecast by over 2.1 million manat ($1.2 million) or 41.7 percent.

The Azerbaijani Finance Ministry envisages revenues from the non-oil sector to the state budget of the country for 2021 to make up 45.8 percent or 11.65 billion manat ($6.85 billion).

(1 USD = 1.7 AZN on Jan.9)

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