Azerbaijani state budget’s 1Q17 incomes exceed forecast by 3.4%
Incomes of Azerbaijan’s state budget amounted to 3,591.5 million manats in the first quarter of 2017, exceeding the forecast of 3,473 million manats by 3.4 percent, said the Ministry of Finance.
Meanwhile, the state budget expenditures amounted to 3,912.7 million manats (the forecast was executed by 95.5 percent).
The deficit of the state budget amounted to 321.2 million manats or 2.1 percent of Azerbaijan’s GDP.
The state budget incomes from the Azerbaijani Ministry of Taxes amounted to 1,420.8 million manats, which is 3.8 percent more than the forecast figure. Of this, 67.2 percent (954.2 million manats) accounted for incomes from Azerbaijan’s non-oil sector.
The state budget incomes from the State Customs Committee of Azerbaijan amounted to 571 million manats, which is 17.5 percent more than the forecast figure and 37 percent or 154.1 million manats more than the incomes in the first quarter of 2016.
In addition, in January-March 2017, 62.6 million manats entered the state budget from chargeable services of the organizations funded from the state budget, and 12.1 million manats accounted for other incomes.
The State Oil Fund of Azerbaijan (SOFAZ) transferred 1,525 million manats to the country’s budget.
During the first three months of 2017, 41.8 percent or 1,635.7 million manats of expenditures of the state budget accounted for social costs, which is 14.6 percent or 209 million manats more compared to the same period 2016.
In January-March 2017, the expenditures of Azerbaijan’s consolidated budget amounted to 6,752.7 million manats, while its incomes were 5,649.6 million manats. The deficit of the consolidated budget was 1,103.1 million manats.