Azerbaijan’s state budget revenues reached 6,335.7 million manat, while expenses – 6,724.1 million manat in January-May 2017, the country’s finance ministry said.
As a result, the state budget deficit was estimated at 388.4 million manat.
As of June 1, the budget deficit was equivalent to 1.53 percent of GDP.
Execution of state budget in January-May 2017
|
Items |
Jan.-May 2017 state budget execution mln manat |
Jan.-May 2017 compared to Jan.-May 2016, % |
Jan.-May 2016 compared to Jan.-May 2015, % |
|
Income – total |
6335,7 |
116,2 |
84,9 |
|
Expenses - total: |
6724,1 |
126,5 |
72,5 |
|
Deficit |
388,4 |
- |
- |
Source: State Statistics Committee and Finance Ministry
About 75 percent of tax revenues in Azerbaijan accounted for the non-oil sector in January-May 2017. In general, tax revenues increased by more than four percent in January-May 2017 compared to January-May 2016. Tax revenues include receipts from all sources, including non-cash transactions.
Tax revenues to the Azerbaijani state budget reached almost 2.83 billion manat in January-May 2017, which is by 4.7 percent more than the forecast.
The revenues worth 7.51 billion manat are expected to be obtained through the Azerbaijani Ministry of Taxes in 2017, which is 46.2 percent of the total budget revenues.
The country’s State Customs Committee transferred almost 974.9 million manat to the state budget in January-May 2017, which is by 14.6 percent more than in the same period of 2016.
The State Customs Committee transferred almost 216.8 million manat to the state budget in May 2017.
Some 57.8 million manat account for customs duties, 149.91 million manat - VAT, almost 6.25 million manat - excise and 2.8 million manat - road tax in May.
The country’s State Customs Committee increased the customs duties by 17.14 percent in May 2017 compared to May 2016. VAT receipts increased by 16.8 percent, excise receipts decreased by 2.6 times, road tax receipts - by 4.3 times.
The forecast on customs revenues to the Azerbaijani state budget for 2017 is 2.2 billion manat.