Azerbaijan’s budget revenues for 2019 to be AZN 23.917 bn and expenditures AZN 24.78 bn


October 24, Fineko/abc.az. Azerbaijan forecasts revenues of State Budget 2019 at the level of AZN 22.917 bn and expenditures at AZN 24.78 bn.

The Draft State Budget for the next year says that the country’s budget expects to receive AZN 7.316 bn (31.9%) of its revenues from the Ministry of Taxes, AZN 11 364.3 million (49.6%) from the State Oil Fund (SOFAZ), AZN 3451.6 million (15.1%) from the State Customs Committee, AZN 785.6 million (3.4%) from other state-governed organizations. The base oil price in State Budget 2019 is set at the level of $60 a barrel.

The domestic oil sector is forecasted to ensure AZN 13.7 bn or 59.8% of State Budget revenues for 2019 and the non-oil sector AZN 9.217 bn or 40.2%.

The maximum level of State Budget deficit 2019 is projected at the level of AZN 1.86 bn to be covered due to the balance of the treasury, proceeds from loans and privatization. The State Budget deficit will make up 2.3% of GDP in 2019.