Azerbaijan’s budget met with surplus for Jan-Jun


July 10, Fineko/ Azerbaijan’s State Budget revenues amounted to AZN 9.82 bn and expenditures AZN 9.524 bn, thus forming a surplus of the State Budget at the level of AZN 297.3 million.

According to Finance Ministry’s operational data on the State Budget meeting, in the 1st half of 2018 State Budget revenues were implemented by AZN 9.82 bn that is by 27.1% or AZN 2.096 bn more than for the 2017 same term.

The State Budget received AZN 3.38 bn (or 0.9% or AZN 30 million more versus Jan-Jun 2017) from the Ministry of Taxes. Of them, 65.8% or AZN 2.226 bn accounted for revenues from the non-oil sector. The State Customs Committee (SCC) transferred AZN 1.619 bn to the State Budget for the past 6 months of the year or AZN 447.8 million more than a year ago. Budget revenues from provided paid services to state-financed organizations totaled AZN 178.9 million and other revenues AZN 33.1 million. The transfer to the budget of the State Oil Fund of Azerbaijan (SOFAZ) amounted to AZN 4.608 bn.

For Apr-Jun the State Budget revenues was implemented by AZN 5.258 bn or AZN 1.125 bn or 27.2% more than for the 2017 same term.

Over Jan-Jun the State Budget expenditures were met by AZN 9.5 bn that is by 16.2% or AZN 1.3 bn more than in the 1st half of 2017. 38.1% or AZN 3.625 bn of expenditures were directed for social payments that is by 3.6% or AZN 125.7 million more than last year.

AZN 4.948 bn or 51.9% were directed to cover current budget expenditures, AZN 3.596 bn or 37.8% to cover basic expenditures, AZN 979.2 million or 10.3% to cover debt service and liabilities.

Over Apr-Jun the State Budget expenditures were implemented by AZN 5.116 bn that is by AZN 835.3 million or 19.5% more than in the 1st half of 2017.

This year’s consolidated budget revenues were met by AZN 15.1 bn or AZN 3.49 bn or 30.1% more than for Jan-Jun 2017. Expenditures of the consolidated budget were implemented by AZN 10.8 bn, thus surplus of AZN 4.257 bn formed in the consolidated budget.