Public budget of Azerbaijan (January-August 2016)

The Azerbaijani state budget decreased the deficit as of August.

Azerbaijan’s state budget revenues reached 8.281 billion manat, while expenses – 9.348 billion manat in January-August 2016, the country’s State Statistics Committee said citing the finance ministry.

As a result, the state budget deficit was estimated at 1.067 million manat or 2.8 percent of GDP. For comparison, as of August, the index was 1.186 billion manat or 3.7 percent of GDP.

GDP was estimated at 38.028 billion manat in January-August.

The law on state budget for 2016 envisages the revenues worth 16.822 billion manat, expenses worth 18.495 billion manat and deficit not exceeding 1.673 billion manat for the entire year.

Execution of public budget in January-August 2016

Items

Jan.-Aug. 2016 execution

mln manat

Jan.-Aug. 2016 compared to Jan.-Aug. 2015, %

Jan.-Aug. 2015 compared to Jan.-Aug. 2014, %

Income – total

8281,5

77,6

86,0

Expenses - total:

9348,5

86,6

94,1

Deficit

1067

-

-

Source: State Statistics Committee and Finance Ministry

Azerbaijan’s State Customs Committee transferred over 1.42 billion manat to the state budget in January-August 2016.

Volume of payments increased by 39.1 percent in January-August 2016 compared to the same period of 2015.

Revenues from customs duties were 379.22 million manat, from VAT – 930.41 million manat, from excise duties – 67.68 million manat, from road tax – 48.96 million manat in January-August 2016.

Revenues from customs duties increased by 40.6 percent, from VAT – by 35.9 percent, from road tax – by 3.9 times, while the revenues from excise duties - by 18.7 percent compared to January-August 2015.

The revenues were 244.09 million manat, with revenues from customs duties totaling 62.06 million manat, from VAT – 159.16 million manat, from excise duties – 8.91 million manat, from road tax – 13.96 million manat in August 2016.

The Committee increased its revenues from customs duties by 2.7 times, from VAT – by 86.1 percent, from excise duties – by 25 percent, from road tax – by 8.6 times compared to August 2015.

In total, the customs payments to Azerbaijan’s state budget are forecast at 1.81 billion manat.

The Azerbaijani Ministry of Taxes fulfilled the forecast of contributions to the country’s state budget by 62.06 percent for the entire 2016 (7.010 billion manat) in January-August.

The Ministry of Taxes transferred 4.351 billion manat to the state budget in January-August.

The forecast of contributions for the reporting period was fulfilled by 100.3 percent.

Some 75,806 entrepreneurs were registered in the Ministry of Taxes in January-August 2016.

Tax revenues amounted to more than 502 million manat in August. Some 13,310 taxpayers were registered.

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