Azerbaijan`s budget met with surplus of AZN 403 million in Q1


April 19, Fineko/abc.az. The Ministry of Finance of Azerbaijan provided operational information on the implementation of the State Budget in the 1st quarter of 2019.

The Ministry reports that the State Budget revenues amounted to AZN 5.439 bn and expenditures AZN 5.035 bn for Jan-Mar 2019. State Budget surplus amounted to AZN 403.8 million for Q1 of the year.

"Over Jan-Mar the State Budget was met by AZN 5439.7 million or 99.1% that is by AZN 876.3 million or 19.2% more versus Q1 of 2018. The State Budget received AZN 1.67 bn from the Ministry of Taxes with a rise of AZN 236.4 million or 16.5% against the 2018 same term, including AZN 69.1% or AZN 1.155 bn of revenues from the private sector. The country’s budget received AZN 1.01 bn from the State Customs Committee that is by 39.5% or AZN 287.1 million more against a year earlier," the MoF said.

Revenues from the budget-financed organizations totaled AZN 93.8 million, and other revenues AZN 43.9 million that is 2-fold or AZN 22.3 million more versus the 1st quarter of 2018. The transfer from the State Oil Fund (SOFAZ) amounted to AZN 2.615 bn for the reporting period.

"State Budget expenditures were implemented by 100.4% or AZN 5.535 million for Q1 of 2019 that is by AZN 627.9 million or 14.2% more versus Q1 of 2018. 41.8% or AZN 2.104 million of expenditures were directed for financing of social payments (19.5% or AZN 343.2 million more versus Q1 of 2018. Current expenditures amounted to AZN 2.707 bn or 53.8% of expenditures, capital expenditures AZN 1.98 bn or 39.4%, expenditures on public debt services and liabilities AZN 344.2 million or 6.8%," the Ministry informed.

The consolidated budget revenues reached AZN 9.19 bn that is by AZN 2.129 bn or 30.1% more against Jan-Mar of 2018. The consolidated budget expenditures amounted to AZN 5.076 bn that, which is by AZN 319 million or 6.7% more versus Q1 of 2018. TheconsolidatedbudgetsurplustotaledAZN4.115 bn.