Azerbaijan's Finance Ministry talks execution of state budge...| MENAFN.COM

Sunday, 04 December 2022 05:10 GMT

Azerbaijan's Finance Ministry talks execution of state budget for 2017


(MENAFN- AzerNews) By

In 2017, 38 percent (6,690.8 million manats) of Azerbaijan's state budget expenditures were of social purposes, which is 7.3 percent or 453.7 million manats more than in 2016, the Finance Ministry said Jan. 12.

These funds were allocated to the wage fund, for the payment of scholarships and social allowances, medicines and food expenses, according to the ministry.

Some 62.1 percent (10,921.1 million manats) of state budget expenditures accounted for current costs, 29.3 percent (5,153.5 million manats) - capital expenditures, 8.6 percent (1,513.7 million manats) - expenditures related to the servicing of public debt and other liabilities.

In total, expenditures of Azerbaijan's state budget last year amounted to 17,588.3 million manats (the forecast was executed by 98 percent).

The state budget revenues last year amounted to 16,446.9 million manats (the forecast was executed by 98.1 percent).

The state budget revenues from the Azerbaijani Ministry of Taxes amounted to 6,972 million manats, which is by 8.8 percent less than the forecast figure. Of this, 74.5 percent (5,192.7 million manats) accounted for revenues from Azerbaijan's non-oil sector.

The state budget revenues from the State Customs Committee of Azerbaijan amounted to 2,608.8 million manats, which is 15.9 percent more than the forecast figure.

In addition, in 2017, 366.1 million manats entered the state budget from chargeable services of the organizations funded from the state budget, 250 million manats at the expense of deductions from the profits of the Central Bank of Azerbaijan and 150 million manats accounted for other revenues.

The State Oil Fund of Azerbaijan (SOFAZ) transferred 6.1 billion manats to the country's budget, which is by 19.9 percent less than in 2016.

The deficit of the state budget amounted to 1,141.4 million manats, which is 33.6 million manats lower than the approved upper limit. The deficit was financed through the sale of government bonds (384.6 million manats), funds from privatization (106.5 million manats) and the balance on the single treasury account of the state budget as of Jan. 1, 2017 (650.3 million manats).

The expenditures of the consolidated budget amounted to 24,982.6 million manats, incomes - 23,951.6 million manats. The deficit of the consolidated budget amounted to 1,031 million manats or 1.5 percent of the country's GDP.

(1.7001 manats = 1$ on Jan. 12)

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