State budget revenues grow

20 April 2019 13:39 (UTC+04:00)

By Abdul Kerimkhanov

The state budget revenues of Azerbaijan in January-March 2019 amounted to 5.44 billion manats ($3.2 billion), which is 19.2 percent or 876.3 million manats ($515.5 million) more than in the same period of 2018, according to the Finance Ministry.

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

In particular, revenues from the Taxes Ministry totaled 1.67 billion manats ($0.98 billion), which is 236.4 million manats ($139 million) or 16.5 percent more compared to the same period of 2018. Of these funds, 69.1 percent (1.16 billion manats or $0.68 billion) accounted for the non-oil sector.

As much as 1.01 billion manats ($0.59 billion) was received from the State Customs Committee, which is 39.5 percent (287.1 million manats or $168.9 million) higher year-on-year.

In addition, in the first quarter of 2019 the state budget received 93.8 million manats ($55.2 million) from paid services provided by budget organizations. Other revenues amounted to 43.9 million manats ($25.8 million). Transfers from the State Oil Fund of Azerbaijan (SOFAZ) made up 2.62 trillion manats ($1.54 trillion).

Meanwhile, the state budget expenditures in January-March this year amounted to 5.04 billion manats ($2.96 billion), which is 14.2 percent or 627.9 million manats more compared to the same indicator in 2018.

During the first three months of this year, 41.8 percent (2.1 billion manats or $1.24 billion) of state budget expenditures was of social orientation, which is 19.5 percent or 343.2 million manats ($201.9 million) more year-on-year. These funds were sent to the wage fund, payment of scholarships and social benefits, as well as to the purchase of medicines and food.

In January-March 2019, as much as 53.8 percent of state budget expenditures (2.7 billion manats or $1.59 billion) amounted to current expenses, and 39.4 percent (1.98 billion manats or $1.16 billion) - to capital expenditures.

A surplus of 403.8 million manats ($237.5 million) was recorded in the state budget of Azerbaijan during the reporting period.

The revenues of the consolidated budget amounted to 9.2 billion manats ($5.4 billion), while the expenditures  made up 5,08 billion manats ($2.98 billion). A surplus of 4.1 billion manats ($2.4 billion) was recorded in the consolidated budget.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94 

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