Azerbaijan, Baku, April 14 / Trend N.Ismayilova /
Azerbaijan is not expected to face problems with the tax revenue budget forecasts in 2011, Tax Minister Fazil Mammadov said at a press conference on Thursday.
"The pace of economic growth increases compared to the same period in 2010 on the backdrop of non-oil sector development and regional economic development. All the forecasts for tax revenues to the budget are being implemented, and no problems are expected," he said.
The revenues and expenditures of the state budget were equivalent to 2.768 billion manat and 2.087 billion manat in the first quarter of 2011, Finance Minister Samir Sharifov said at an enlarged meeting of the Cabinet of Ministers chaired by President Ilham Aliyev. The meeting was devoted to the country's socioeconomic development in the first quarter of the year.
The forecast for the first quarter state budget was performed at 118 percent on revenues and 87.3 percent on expenditures.
The Tax Ministry transferred 1.161 billion manat in taxes and duties to the state budget, an increase of 15 percent (151 million manat) against the first quarter of 2010.
The official exchange rate is 0.7918 manat to $1 on April 14.