By Ayya Lmahamad
Azerbaijani Parliament has approved in the first reading the draft law “On the execution of the state budget for 2019” during the plenary session held on June 5.
The state budget revenues and expenditures for 2019 have been approved in the amount of AZN 23.2 billion ($13.6bn) and AZN 24.2 billion ($14.2bn) respectively.
The state budget revenues for 2019 (excluding transfer from State Oil Fund) grew by 11.3 percent compared to 2018. State budget expenditures amounted to AZN 24.4 billion ($14.3bn), with a growth of 7.5 percent compared to 2018.
Revenues to the state budget came from:
-the State Customs Committee, amounting to AZN 4.4 billion ($2.6bn);
-the State Tax Service under the Ministry of Economy, amounting to AZN 7.7 billion (4.5bn);
-State Oil Fund of Azerbaijan, amounting to AZN 11.4 billion ($6.7bn);
- share of other income amounted to AZN 772.9 million ($454.6M) (AZN 578.9 million ($340.5M) - paid services of budget organizations, AZN 182.6 million ($107.4M) - other income, AZN 11.4 million ($6.7M) - from revenues from renting out state property and lands on which the privatized state enterprises and facilities are located).
Current expenditures of the state budget in 2019 amounted to AZN 13.5 billion ($7.9bn) (55.4 percent of total), capital expenditures amounted to AZN 9.4 billion ($5.5 bn) (38.4 percent of total), expenditures related to the public debt and liabilities services amounted to AZN 1.5 billion ($882.3M) (6.2 per cent of total).
Some AZN 7.7 billion (4.5bn) or 31.8 percent of the state budget expenditures were directed to financing social expenses (with a growth of 7.8 percent compared to 2018)
Thus, Azerbaijan's state budget deficit in 2019 was AZN 207.8 million ($122.2M) or 0.3 percent of GDP.
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