Azerbaijan`s budget deficit for 2018 does not exceed maximum level

17.01.2019,17:27


January 17, Fineko/abc.az. Azerbaijan’s State Budget revenues for 2018 totaled AZN 22.4 bn and expenditures AZN 22.718 bn.

According to Finance Ministry’s operational data, country’s budget for the past year was met by 101.2%.

"State Budget received AZN 7.417 bn from the Tax Ministry, that exceeds the forecast by 100.5%. Of them, 67.1% or AZN 4.975 bn accounted for proceeds from the private sector, AZN 3.434 bn from the State Customs Committee with budget meeting by 107.6%, AZN 10.959 bn from the State Oil Fund of Azerbaijan (SOFAZ). Budget revenues from paid services rendered to state employees amounted to AZN 466.4 million, and other revenues AZN 134.3 million," the Ministry said.

The revenue part of the budget by the end of 2018 was implemented by AZN 6.32 bn.

"In 2018, State Budget expenditures were met by 98.4% or AZN 22.718 bn. Over Oct-Dec expenditures were met for AZN 7.052 bn. In 2018, AZN 11.549 bn or 50.8% were directed for current expenditures, AZN 8.9 bn or 39.4% for capital expenditures, and AZN 2.227 bn or 9.8% for coverage of state debt and liabilities," it was reported.

According to operational data, 31.7% or AZN 7.196 bn directed for financing of social-purpose expenditures that is by AZN 505.9 million or 7.6% more than in 2017.

"State Budget 2018 deficit amounted to AZN 307.6 million that is by AZN 643.4 million less than the approved upper limit. AZN 222.6 million of the deficit were covered due to sale of state bonds for AZN 101.2 million from privatization of state property," the Finance Ministry said.

The consolidated budget revenues were met by the end of 2018 for AZN 31.03 bn and expenditures for AZN 26.334 bn. The surplus of the consolidated budget amounted to AZN 4.7 bn.

 

Keywords: Budget