Azerbaijan’s budget met in 1st half of 2018 with surplus of AZN 300 million


July 10, Fineko/ The growth of Azerbaijani population’s profit by 9.3% has covered the inflation by 6.3%.

Economy Minister Shahin Mustafayev has stated that in the 1st half of this year GDP grew by 1.3%, the non–oil sector by 2%, inflation made up 3%. In the non–oil industry, which plays the special role in the diversification of the economy, an increase made up 8.8%, in agriculture 7.6%, information & communication services 4.9%, and trade 2.5%.

"Over the past 6 months State Budget's revenues amounted to AZN 9.8 bn and expenditures AZN 9.5 bn. The State Budget revenues from the non-oil sector totaled AZN 4.1 bn that is by AZN 275 million or 7.3% more compared to the 2017 same term. Investments of AZN 6.3 bn were directed in fixed capital from all financial sources for development of the economy and social spheres. Funds allocated for fixed assets on the non-oil sector increased by 22% and on the non–oil industry by 69%," the minister said.

He added that population’s profit increased by 9.3% and covered inflation by 6.3%. The average monthly salary increased by 4% year-on-year.