Most Azerbaijani regions to be financed via local revenues in 2021

Finance Materials 11 January 2021 10:28 (UTC +04:00)
Most Azerbaijani regions to be financed via local revenues in 2021

BAKU, Azerbaijan, Jan.11

By Zeyni Jafarov - Trend:

The projected rate of growth of local revenues in Azerbaijan is at the same level with the centralized revenues, the Accounts Chamber noted in its opinion for the country’s 2021 state budget, Trend reports.

Thus, 64.6 percent of the regional funding will be covered through the local revenues.

According to the forecast, 96.8 percent of the budget for this year’s revenues will fall on centralized revenues, while 3.2 percent – on local revenues. So, the centralized revenues are envisaged to make up 24.6 billion manat ($14.47 billion), and local revenues - 805.4 million manat ($473.7 million), that is, respectively, 1.26 billion manat or $740 million (5.4 percent) and 40.9 million manat, or over $24 (also 5.4 percent) more than in 2020.

It’s also envisaged that 42 out of 65 regions, including Baku, will be fully financed via the local revenues.

Besides, it’s planned to allocate 54.2 million manat (over $31.8 million) from centralized expenses for the regulation of local revenues and expenditures of other 23 regions, provided that the revenues of these regions won’t be enough to cover expenses.

Cumulative revenues for all regions for 2021 are reported to be 0.8 percent higher than in 2020.

Revenues for 2021 are projected to grow across all the regions compared to the expected implementation for the past year.

(1 USD = 1.7 AZN on Jan.11)


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