12:50 - 19.10.2017

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Over Jan-Sept of the year the deficit of the State Budget of Azerbaijan totaled AZN 783.6 million.

The Ministry of Finance reports that country’s budget revenues for the reporting period amounted to AZN 12.045 bn and expenditures AZN 12.78 bn, and as a result, deficit in the amount of AZN 783.6 million formed.

"Budget revenues were implemented for AZN 12.045 bn against the forecast of AZN 12.019 bn (0.2% more) that is by AZN 1.94 bn or 19.2% more than for the same period of last year. With implementation of profitable part of budget by 100.1% it was provided transfer of AZN 5.224 bn to the State Budget that is by AZN 298.5 bn or 6.1% more than for the 2016 same term. 73.2% of those revenues were provided due the non-oil sector," the MoF said.

The State Customs Committee transferred AZN 1.95 bn to the State Budget for Jan-Sept that means meeting of the forecast by 117.8%. The country’s budget was transferred AZN 4.3 bn from the State Oil Fund of Azerbaijan (SOFAZ) that is by AZN 275 million or 6.0% less against the forecast.

The State Budget expenditure part was implemented for Jan-Sept 2017 for AZN 12.78 bn or 100.7% that was by AZN 2.16 bn or 20.3% more than for the first 9 months of 2016. Social expenditures for the reported period amounted to 38.1% of total expenditures or AZN 4.865 bn that is by AZN 351.4 million or 7.8% more than for the first 9 months of last year. Budget expenditures for Jan-Sept amounted to AZN 4.59 bn.

Over Jan-Sept of the year the deficit of the State Budget formed at the level AZN 738.6 million that was covered at the expense of privatization proceeds, and proceeds from external borrowing and the balance on the single treasury account of the State Budget by 1 January 2017.

Consolidated budget revenues for Jan-Sept 2017 amounted to AZN 17.586 bn and expenditures AZN 16.97 bn, and thus the surplus of the consolidated budget formed at the level of AZN 614.5 million.