Azerbaijan’s state budget revenues grow

Azerbaijan’s state budget revenues grow

Economy
19 July 2019, 11:54 361
State budget revenues of Azerbaijan amounted to 10.4 billion manats in the first half of 2019, which is 6 percent, or 590.2 million manats more than in the same period last year, Trend reports referring to the Ministry of Finance.
The share of revenues of the non-oil sector amounted to 70.1 percent, or 2.245 billion manats in total terms. This is 14.3 percent more than in the first half of the previous year.
The Ministry of Taxes of Azerbaijan transferred 3.632 billion manats to the budget (an increase of 7.4 percent). The State Customs Committee (SCC) transferred 2.065 billion manats (an increase of 27.6 percent) to the state budget. Revenues from paid services of organizations financed from the state budget amounted to 234.4 million manats (an increase of 30.9 percent). Other budget revenues amounted to 60.1 million manats.
Revenues through the State Oil Fund of Azerbaijan (SOFAZ) to the state budget amounted to 4.413 billion manats.
For the first six months, state budget expenditures amounted to 10.95 billion manats (an increase of 15.0 percent). In the structure of expenditures, 5.6 billion manats accounted for current expenses (the share from the total amount - 51.3 percent), 3.94 billion manats - for capital expenditures (share of 36 percent), 1.39 billion manats were allocated on expenses related to servicing the public debt and liabilities (share of 12.7 percent).
This is while 3.95 billion manats were allocated on social spending (wage fund, scholarships and social benefits, spending on drugs and food). Their share in total expenses increased and amounted to 36.1 percent.
The state budget deficit in the first half of this year amounted to 545.5 million manats.
The revenues of the consolidated budget amounted to 17.583 billion manats, showing an increase of 16.3 percent. Expenditures of the consolidated budget amounted to 11.68 billion manats, increasing by 7.7 percent. The free balance in the consolidated budget amounted to 5.9 billion manats.