The Azerbaijani state budget decreased the deficit as of October.
Azerbaijan’s state budget revenues reached 12,103.9 million manat, while expenses – 12,468.2 million manat in January-October 2016, the country’s State Statistics Committee said citing the finance ministry.
As a result, the state budget deficit was estimated at 364.3 million manat or 0.7 percent of GDP. For comparison, as of October 1, the index was 519.1 million manat.
GDP was estimated at 49,223.4 million manat in January-October.
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 state budget in January-October 2016
|
Items |
Jan.-Oct. 2016 state budget execution mln manat |
Jan.-Oct. 2016 compared to Jan.-Oct. 2015, % |
Jan.-Oct. 2015 compared to Jan.-Oct. 2014, % |
|
Income – total |
12103,9 |
87,2 |
87,9 |
|
Expenses - total: |
12468,2 |
89,5 |
100,5 |
|
Deficit |
364,3 |
- |
- |
Source: State Statistics Committee and Finance Ministry
The country’s Ministry of Taxes transferred 5.7 billion manat to the state budget in January-October 2016, which is by 128,000 manat (0.1 percent) more than the forecast.
The revenues worth 4.31 billion manat obtained from the non-oil sector was transferred to the state budget in January-October 2016, which is by 247.5 million manat more than in January-October 2015.
During the reporting period, some 105,605 taxpayers were registered in Azerbaijan.
Some 7.01 billion manat is projected to be transferred to the Azerbaijani state budget through the Ministry of Taxes in 2016, which is 41.7 percent of total budget revenues.
The country’s State Customs Committee transferred 101.49 percent of the amount projected for the year to the state budget-2016, which increased from 1,590 billion manat to 1,810 billion manat in January-October.
Thus, some 1,837.044 million manat was transferred to the state budget in January-October compared to 1,258.852 million manat in January-October 2015.
Some 183,135 million manat was transferred in October compared to 227,650 million manat in September and 244,090 million manat in August (the best index in 2016).
The budget assignments worth 57,109 million manat account for customs duties, 117,649 million manat - VAT, 5,885 million manat - excise and 2,492.1 million manat - road tax in October.