SOFAZ fails to fulfill the budget forecast

Baku. 19 October. REPORT.AZ/ In January-September, revenues of the state budget of Azerbaijan amounted to 12,045.1 mln. AZN, while expenditure was 12 783,7 mln. AZN. The budget deficit was 783.6 mln. AZN.

Report informs, Ministry of Finance stated.

According to information, budget revenues for the first nine months of 2017 were implemented by 0.2% more than the forecast, which is 1.942 bln AZN or 19,2% more compared to the same period in 2016.

State budget received 4.3 bln. AZN from SOFAZ which is 6% or 275 mln AZN less compared to the forecast.

Receipts from paid services of state-funded organizations totaled 246.7 mln. AZN. This is 53.8 mln AZN or 27.9% more compared to the same period in 2016.

323.2 mln. AZN including 250 mln AZN were transferred from the free profit of the Central Bank of Azerbaijan (CBA).

In addition, income for July-September amounted to 4 320.3 mln. AZN.

As for expenditures, budget expenditures have been executed for 100,7% in the last nine months compared to the forecast. This is 2 161.5 mln. AZN or 20,3% more compared with the same period in 2016.

In addition, revenue for July-September in amount of 4.59 bln AZN were executed.

Revenues of the consolidated budget in January-September amounted to 17 586.9 mln. AZN, expenditures of the consolidated budget were 16 972.4 mln. AZN.  Residue totaled to 614,5 mln AZN.