Deficit of AZN 545.5 million formed in consolidated budget for past 6 months


July 19, Fineko/abc.az. Azerbaijan’s State Budget deficit totaled AZN 545.5 million or 1.44% of GDP in the 1st half of 2019.

According to Finance Ministry’s operational data, State Budget revenues for the reporting period reached AZN 10.405 bn (revenue growth made up 6% versus the 2018 same term).

Country’s budget revenues from the Ministry of Taxes amounted to AZN 3.6 bn (rise of 7.4% against the 1st half of 2018), including AZN 2.245 bn (rise of 14.3%) from the nonoil sector or 70.1% of all transfers from the Ministry.

State Budget revenues from the State Customs Committee for Jan-Jun 2019 reached AZN 2.65 bn (rise of 27.6%).

State Oil Fund’s transfers to the State Budget totaled 4.413 bn and other revenues AZN 60.1 million, extra-budgetary revenues of budgetary organizations AZN 234.4 million.

State Budget revenues for Q2 of 2019 amounted to AZN 4.965 bn.

For the past 6 months of the year State Budget expenditures totaled AZN 10.95 bn (rise of 15%).

Social expenditures reached AZN 3.95 bn or 36.1% of all State Budget expenditures for the reporting period. Their volume increased by 9% versus the 2018 same term.

Over the 1st half of 2019 State Budget current expenditures amounted to AZN 5.6 bn (51.3% of all budget expenditures), capital expenditures AZN 3.94 bn (36%), expenditure on debt service and obligations AZN 1.39 bn (12.7%).

Budget expenditures totaled AZN 5.89 bn for Apr-Jun 2019 (2nd quarter).

According to the Finance Ministry, Azerbaijan’s consolidated budget revenues for the 1st half of 2019 reached AZN 17.58 bn (rise of 16.3%), expenditures AZN 11.68 bn (rise of 7.7%), and surplus AZN 5.9 bn or 15.6% of GDP.

State Budget revenues for 2019 were approved in the amount of AZN 23.168 bn and expenditures AZN 25.19 bn. State Budget deficit is projected at the level of AZN 2.22 bn or 2.5% of GDP.