...

Azerbaijani shares data on revenues from state-owned enterprises

Finance Materials 9 June 2021 20:28 (UTC +04:00)
Azerbaijani shares data on revenues from state-owned enterprises

BAKU, Azerbaijan, June 9

By Zeyni Jafarov - Trend:

The amount of funds transferred from the Azerbaijani state-owned enterprises to the state budget remained small in 2020 compared to the amount received from the budget, Trend reports on June 9 referring to the conclusion of the Chamber of Accounts of Azerbaijan on the execution of the 2020 state budget.

Some 20 state-owned enterprises, indicated in the state budget as separate independent disposers of loans, received a total of 2.6 billion manat ($1.5 billion) in some spheres of the Azerbaijani state budget last year.

According to the Chamber, 1.6 billion manat ($941 million), or 60.8 percent, out of this amount accounted for state capital investments, 656.6 million manat ($386.2 million), or 24.8 percent, for expenses adjusted by preliminary distribution, 136.7 million manat ($80.4 million) or 5.2 percent - for expenses for one-time use and events, 240.7 million manat ($141.6 million) or 9.1 percent - for reserve funds, 3.3 million manat ($1.9 million) or 0.1 percent - for extra-budgetary expenses.

The Chamber stressed that state-owned enterprises are viewed as sources of risk that have an impact on public finances and fiscal sustainability.

The funds which are used by some state-owned enterprises from the state budget exceed their contribution to the budget.

In accordance with the data, the state budget received a total of 1.8 billion manat ($1.05 billion) from state-owned enterprises in 2020.

However, at the same time, more than three billion manat ($1.8 billion) were allocated from the state budget to the state-owned enterprises, excluding state capital investments.

------

Follow the author on Twitter: @jafarov_zeyni

Tags:
Latest

Latest