AZN 784M budget deficit emerged in nine months

AZN 784M budget deficit emerged in nine months
# 19 October 2017 10:15 (UTC +04:00)

According to Finance Ministry, incomes of the state budget were executed for 12,045.1 million manat against forecast of AZN 12,019,000,000, which is 19.2 percent or 1.942 bln. manat more compared to the same period of 2016.

 

The Ministry of Taxes of the Republic of Azerbaijan transferred 5,224.8 million manat to the state budget executing the income forecast for 100.1 percent, which is 6.1 percent or 298.5 mln. manat more compared to the same period of the previous year. 73.2 percent or 3,825.8 million manat of this amount is made up revenues from non-oil sector.

 

The State Customs Committee of the Republic of Azerbaijan has executed the forecast for 117.8 percent and transferred 1,950.4 million manat during nine months of 2017, up 17.9 percent or 296.6 million manat from the same period of the previous year.

 

AZN 4.3 bln was transferred from the State Oil Fund of the Republic of Azerbaijan to the state budget, down 6% or AZN 275 million by contrast to a year earlier.

 

Revenues from budget-funded entities made up 246.7 million manat, up 27.9 percent or 53.8 mln. manat compared to the same period of 2016. AZN 323.2 million manat to the budget was transferred from other revenues, of which AZN 250 million came as transfers from central bank’s profit.

 

Incomes of the state budget were executed for 4,131.1 mln. manat in April to July 2017, which is 68.3 percent or 1,675.8 million manat more compared to the same period of the previous year.

 

In July-September 2017, the state budget receipts stood at AZN 4,320,300,000.

 

Expenditures of the state budget for nine months of 2017 were executed for 100.7 percent or 12,783.7 million manat, up 20.3 percent or 2,161.5 million manat compared to the same period of 2016.

 

AZN 4,865.1 mln or 38.1 percent of expenditures of the state budget was spent on funding of social costs (labor compensation fund, pensions and social benefits, medicines and food costs) during nine months of the current year in accordance with the economic classification, up 7.8 percent or 351.4 mln. manat in comparison with the same period of the previous year.

 

Furthermore, AZN 514.7 mln was spent on construction and renovation of education, health, social, cultural and other socio-cultural and household facilities, AZN 1,666.1 mln on construction and renovation of energy, water supply, gas, transportation, water, air and metro transport, utilities, melioration infrastructure and other fields, including AZN 64.9 mln on financing of investment projects implemented in the Autonomous Republic of Nakhchivan.

 

In July-September the budget expenditures stood at AZN 4.59 billion.

 

During the reporting period, the budget deficit amounted to AZN 738.6 million, which was compensated by receipts from privatization, internal and external borrowing, the balance of the single treasury account for January 01, 2017

 

Incomes and expenditures of the consolidated budget relevantly made up AZN 17,586,900,000 and AZN 16,972,400,000. The surplus of the consolidated budget was AZN 614.5 million. 

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