12:07 - 11.01.2018

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January 11, Fineko/abc.az. Azerbaijan's Finance Minister Samir Sharifov delivered speech at Cabinet Ministers’ meeting dedicated to the results of 2017 and the upcoming challenges.

In particular, the minister stated that State Budget 2017 of Azerbaijan was implemented by 98% with revenues for AZN 16.447 bn and expenditures for AZN 17.588 bn.

"Despite the country’s budget received by AZN 736 million less than it was forecasted, due to the excess of the projected revenues from the State Customs Committee by 16% or AZN 359 million, sales of state short-term bonds on the domestic market and increase of efficiency of budget expenditures, it was ensured implementation of the expenditure part of the budget in full," Sharifov said.

He points out that the budget deficit was less than the maximum level by AZN 3 million. Although consolidated budget deficit was forecasted at the level of AZN 7.6 bn or 11.1% of GDP, deficit narrowed to 1.5% and amounted to AZN 1 bn until the end of 2017.