Azerbaijan records growth in 2020 state budget revenues

Finance Materials 13 January 2021 12:19 (UTC +04:00)
Azerbaijan records growth in 2020 state budget revenues

BAKU, Azerbaijan, Jan. 13

By Zeyni Jafarov - Trend:

Revenues of the Azerbaijani state budget surpassed 24.6 billion manat ($14.4 billion) in 2020, which is 1.9 percent more compared to the same period of 2019, Trend reports citing the report of the State Statistical Committee.

As reported, in 2020 the expenditures of the state budget rose by 8.2 percent over the year, making up 26.4 billion manat ($15.5 billion).

Accordingly, in the reporting year, a deficit was formed in the state budget of Azerbaijan, amounting to over 1.7 billion manat ($1.03 million).

Meanwhile, a nominal volume of the gross domestic product (GDP) of the country made up 72.4 billion manat ($42.6 billion). Thus, the state budget’s deficit accounted for 2.4 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 Jan.13)


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