BAKU, Azerbaijan, January 23. Azerbaijan's state budget deficit amounted to 1.4 billion manat ($820 million) in 2022, which is 54.8 percent, or 1.7 billion manat ($1 billion) less than the forecast (3.1 billion manat or $1.8 billion), Trend reports via the Ministry of Finance of Azerbaijan.
According to the ministry, the ratio of the budget deficit to GDP was one percent at the end of last year, which is 1.7 percent lower than forecast.
The state budget deficit was covered by foreign loans on signed projects (259.7 million manat or $152.7 million), external and internal borrowings (976.3 million manat $574.2 million), and privatization of state property (115.4 million manat or $67.8 million).
In 2021, Azerbaijan's state budget deficit amounted to 1.01 billion manat ($590 million), which was 67.4 percent, or 2.09 billion manat ($1.23 billion) less than the forecast (3.1 billion manat or $1.8 billion),
The ratio of the budget deficit to GDP was 1.1 percent, which was 2.7 percent lower than forecast.
The state budget deficit was covered by external borrowings (346.6 million manat or $203.8 million), internal borrowings (557.7 million manat or $328.06 million), and privatization of state property (112.7 million manat or $66.2 million).