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Growth in Azerbaijan's state budget revenues



By  Trend

State budget revenues of Azerbaijan amounted to 5,439,700 manats in January-March 2019, which is 19.2 percent or 876,300 manats more than the same period last year, Trendreports referring to the Ministry of Finance.

The forecast on state budget revenues during the reporting period was fulfilled by 99.1 percent.

In the revenue structure of the budget, revenues from the Ministry of Taxes amounted to 1,672,900 manats or 16.5 percent, which is more by 236,400 manats compared to the same period of 2018. Of these funds, 69.1 percent (1,155,400 manats) accounted for the non-oil sector.

The State Customs Committee transferred 1,014,100 manats to the state budget, which is 39.5 percent (287,100 manats) higher than the same period last year.

Moreover, during the first quarter of 2019, the state budget received 93,800 manats from paid services provided by budget organizations. Other revenues amounted to 43,900 manats. Transfers from the State Oil Fund of Azerbaijan (SOFAZ) to the treasury amounted to 2.615 billion manats.

The state budget expenditures amounted to 5,035,900 manats in January-March 2019, which is 14.2 percent or 627,900 manats more than the figures for 2018.

During the first 3 months of this year, 41.8 percent (2,104,500 manats) of state budget expenditures consisted of social expenses, which is 19.5 percent, or 343,200 manats more than last year. These funds were forwarded to the wage fund, the payment of scholarships and social benefits, and the purchase of medicines and food.

In January-March 2019, 53.8 percent of state budget expenditures (2,707,300 manats) consisted of current expenses, with 39.4 percent (1,984,400 manats) consisting of capital expenditures.

A surplus of 403,800 manats was formed in the state budget of Azerbaijan during the reporting period.

The revenues of the consolidated budget for the first 3 months of the year amounted to 9,192,200 manats. The expenditures of the consolidated budget amounted to 5,076,900 manats.

A surplus of 4,115,300 manats was formed in the consolidated budget.

($1=1.7 AZN on April 19)

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