Surplus of Azerbaijan’s consolidated budget nears AZN 6B

In the first half of 2019, revenues of the state budget amounted to AZN 10,405,500,000, up 6% or AZN 590.2 million from previous year, Report informs citing the Finance Ministry.

According to the Ministry, the transfers from the Ministry of Taxes to the state budget  have risen by 7.4% or AZN 250.3 million to AZN 3,632,800,000. Of this, AZN 70.1% or AZN 2,245,300,000 came from non-oil sector, up AZN 318.8 million or 14.3% by contrast to a year earlier.

The State Customs Committee transferred AZN 2,065,200,000 to the state budget, which is a growth of AZN 446.2 million or 27.6% higher than a year ago.

Transfers from paid services of budget-funded organizations grew by AZN 55.5 million or 30.9% to AZN 234.4 million.

Other transfers made up AZN 60.1 million. SOFAZ transferred AZN 4,431,000,000 to the state budget.

The forecast on revenues in April-June 2019 was fulfilled AZN 4,965,800,000.

Budget expenditures rose by 15% or AZN 1,426,700,000 to AZN 10,951,000,000.

Of this, 36.1% or AZN 3,953,700,000 was spent on social fields (payment of salary, pensions and social benefits, medicine and food), up 39% or AZN 328 million.

Current expenditures made up AZN 5,621,000,000 or 51.3% of total expenditures, capital expenditures – AZN 3,941,600,000 or 36%. AZN 1,388,400,000 or 12.7% was spent on services for public debt and liabilities.

In April-June 2019, budget expenditures amounted to AZN 5,891,800,000, up AZN 775.5 million or 15.2% by contrast to a year earlier.

Consolidated budget  revenues amounted to AZN 17,583,100,000, up AZN 2,467,600,000 or 16.3% in comparison to a year ago. Expenditures made up AZN 11,682,000,000, which is AZN 839 million or 7.7% higher than the same period of 2018. Consolidated budget surplus constituted AZN 5,901,100,000.