Volume of Azerbaijan's budget surplus and revenues revealed
By Abdul Kerimkhanov
The surplus of Azerbaijan’s state budget made up 180.6 million manats ($106 million) or 0.3 percent of the country’s GDP in January-September 2019, the Ministry of Finance has reported.
The state budget revenues amounted to 16.87 billion manats ($9.9 billion) in the reporting period (revenue growth by 4.9 percent compared to the same period in 2018), according to the data provided by the ministry
In the revenues’ structure, revenues from the Ministry of Taxes totaled 5.6 billion manats ($3.3 billion, an increase of 5.7 percent compared to the same period in 2018), including 3.93 billion manats ($2.3 billion) from the non-oil sector (an increase of 12.6 percent) or 70 percent of all agency fees.
Revenues to the state budget through the State Customs Committee in the reporting period made up 3.25 billion manats ($1.9 billion), which is an increase of 25 percent.
Transfers to the state budget from the State Oil Fund amounted to 7.5 billion manats ($4.4 billion), other revenues - 99.4 million manats ($58.5 million), extrabudgetary revenues of budget organizations - 377.2 million manats ($221.89 million).
In the third quarter, the state budget revenues totaled 6.5 billion manats ($3.8 billion).
State budget expenditures for January-September 2019 amounted to 16.7 billion manats ($9.8 billion, an increase of 6.5 percent).
Social expenses amounted to 5.89 billion manats ($3.46 billion), or 35.3 percent of all state budget expenditures for the reporting period. Compared to the same period of 2018, their volume increased by 8.8 percent.
In January-September 2019, current state budget expenditures amounted to 8.95 billion manats ($5.27 billion) or 53.6 percent of all state budget expenditures, capital expenditures - 6.3 billion manats ($3.7 billion, or 37.9 percent of all expenditures), government debt and obligations servicing expenses - 1.4 billion manats ($823.5 million and 8.5 percent of all expenses).
At the same time, in July-September, budget expenditures amounted to 5.74 billion manats ($3.38 billion).
According to the ministry’s report, incomes of the consolidated budget of Azerbaijan for nine months of 2019 made up to 25.57 billion manats ($15 billion, an increase of 7.1 percent), expenses - 17.96 billion manats ($10.6 billion), surplus - 7.6 billion manats ($4.47 billion) or 13 percent of GDP.
State budget revenues for 2019 were approved in the amount of 23.17 billion manats ($13.6 billion), expenses - 25.2 billion manats ($14.8 billion). The budget deficit is projected at slightly two billion manats ($1.18 billion or 2.5 percent of GDP).
Note that revenues of Azerbaijan’s state budget for 2019 are estimated at 23.17 billion manats ($13.63 billion), while expenses at 25.19 billion manats ($14.8 billion).
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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94
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