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.
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