Azernews.Az

By Amina Nazarli

Last year, some 35.2 percent or 6,238 billion manats ($3,271 billion) of the 2016- state-budget expenditures were directed to the social sector, and this is 10.1 percent more than in 2015.

The Azerbaijani Finance Ministry reported that the funds were directed for the payment of wages, stipends and social allowances, medical and food expenses.

As much as 65.9 percent or 11,693 billion manats ($6,133 billion) of the budget expenditures fell for the current expenditure, 24.1 percent or 4,284 billion manats ($2.246 billion) for capital expenditure, 10 percent (1,765 billion manats (about $926,000 million)) for costs of public service debt and other obligations.

In general, the state budget expenditures of Azerbaijan for 2016 exceeded 17, 742 billion manats ($9,306 billion).

Budget revenues amounted to over 17,501 billion manats ($9,179 billion) against the forecast of 16,822 billion manats ($8,823 billion) last year, what means over-fulfillment of the forecast by four percent.

The revenue of the budget by the Tax Ministry amounted to 7,015 billion manats ($3,679 billion) and this 0.1 percent more than forecasted.

A total of 77.1 percent (5,408 billion manats ($2,836 billion)) of the budget revenues fell on non-oil sector, which is 7.6 percent more than in 2015.

The State Customs Committee transferred 2,292 billion manats ($1.201 billion), which is 26.6 percent more than forecast and 44 percent higher than in the previous year.

Transfers from the State Oil Fund of Azerbaijan (SOFAZ) to budget in 2016 amounted to 7,615 billion manats ($3,994 billion), and this is 6.3 percent less than in 2015.

The budget deficit amounted to 242.1 billion manats ($126.9 billion), while consolidated budget expenditures amounted to 21,406 million manats ($11,227 million), and incomes – 21,581 million manats ($11,319 million).

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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli

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