TODAY.AZ / Business

Azerbaijan’s state budget executed with surplus in 1H18

10 July 2018 [16:47] - TODAY.AZ

By  Trend


Azerbaijan’s state budget revenues amounted to 9,821.6 million manats in the first half of 2018, which is 27.1 percent or 2,096.8 million manats more than in the same period last year, Azerbaijan’s Finance Ministry said in a message.

The state budget revenues from the Azerbaijani Ministry of Taxes amounted to 3,382.6 million manats, which is by 30 million manats, or by 0.9 percent more than in the same period of 2017. Of this, 65.8 percent (2,226.1 million manats) accounted for revenues from Azerbaijan’s non-oil sector.

The state budget revenues from the State Customs Committee of Azerbaijan amounted to 1,619 million manats, which is 38.2 percent (447.8 million manats) more than in the same period last year.

In addition, in the first half of 2018, 178.9 million manats entered the state budget from chargeable services of the organizations funded from the state budget and 33.1 million manats accounted for other revenues.

The State Oil Fund of Azerbaijan (SOFAZ) transferred 4,608 million manats to the country’s budget.

Expenditures of Azerbaijan’s state budget in the first half of 2018 amounted to 9,524.3 million manats, which is 16.2 percent or 1,330.6 million manats more than in the same period of 2017.

In the first half of 2018, 38.1 percent (4,948.8 million manats) of Azerbaijan’s state budget expenditures were of social purposes, which is 3.6 percent or 125.7 million manats more than in the same period of 2017.

These funds were allocated to the wage fund, for the payment of scholarships and social allowances, medicines and food expenses, according to the ministry.

Some 51.9 percent (4,948.8 million manats) of state budget expenditures accounted for current costs, 37.8 percent (3,596.3 million manats) - capital expenditures, 10.3 percent (979.2 million manats) - expenditures related to the servicing of public debt and other liabilities.

The expenditures of the consolidated budget amounted to 10,843 million manats, incomes – 15,100.2 million manats, which is 3,492.1 million manats, or 30.1 percent more than in the same period last year.

Surplus of the consolidated budget amounted to 4,257.2 million manats.

(1.7 manats = 1 USD on July 10)

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