Azerbaijan’s state budget revenues reached 12,045.1 million manat, while expenses – 12,783.7 million manat in January-September 2017, the country’s State Statistics Committee said.
As a result, the state budget deficit reached 738.6 million manat.
The state budget revenues for 2017 are projected at 16.766 billion manat, expenses - 17.941 billion manat.
The state budget deficit is expected to reach 1.175 billion manat, which is 1.8 percent of Azerbaijan’s GDP expected in 2017.
Execution of state budget in January-September 2017
|
Jan.-Sept. 2017 execution mln manat |
Jan.-Sept. 2017 compared to Jan.-Sept. 2016, % |
Jan.-Sept. 2016 compared to Jan.-Sept. 2015, % |
|
|
Income – total |
12,045.1 |
119.2 |
83.7 |
|
Expenses - total: |
12,783.7 |
120.3 |
87.4 |
|
Deficit |
738.6 |
Source: State Statistics Committee and Finance Ministry
Azerbaijan’s state oil company SOCAR allocated almost 1.17 billion manats to the state budget in January-September 2017, which is by 13.7 percent (140.83 million manats) more than in the same period of 2016.
In September 2017, SOCAR transferred 117.33 million manats to the state budget.
In January-September 2017, SOCAR transferred 112.43 million manats to the State Social Protection Fund (SSPF) of Azerbaijan, which is by 4.9 percent (5.26 million manats) more than in the same period of 2016.
In September 2017, transfers to the SSPF amounted to 12.6 million manats.
According to the Azerbaijani State Customs Committee’s report, customs authorities transferred more than 1.95 billion manats to the state budget in January-September 2017 that is 18 percent more than in the same period of 2016.
Meanwhile, transfers exceeded 243 million manats in September. Last month, revenues from customs duties amounted to almost 56.2 million manats, revenues from VAT – 176.3 million manats, revenues from excise duty – 7.8 million manats, revenues from highway use tax – 3.4 million manats.
Revenues from customs duties decreased by 1.4 percent, revenues from VAT rose by almost 10 percent, revenues from excise duty decreased by 1.9 percent, and revenues from highway use tax increased by 41.7 percent as compared to September 2016.
The forecast for customs revenues of Azerbaijan’s state budget is 2.205 billion manats for 2017.
Tax revenues of Azerbaijan's state budget exceeded 5.22 billion manats in January-September 2017, which is 0.1 percent more than the forecasted figure.
The Taxes Ministry is expected to transfer 7.645 billion manats (45.6 percent of total budget revenues) to the state budget in 2017.
Revenues of Azerbaijan’s state budget have been approved in the amount of 16.766 billion manats, expenses – 17.941 billion manats for 2017. Budget forecasts are formed on the basis of oil prices at $40 per barrel.