BAKU, Azerbaijan, July 17
By Fidan Babayeva - Trend:
The volume of production in the non-oil sector of Azerbaijan in the 1H2020 increased by 11.2 percent compared to the same period of 2019 and made up 5.7 million manat ($3.3 million), Trend reports on Wednesday citing the State Statistics Committee of Azerbaijan.
In the period from January through June 2020, 5.9 billion manat ($3.4 billion) from all financial sources were directed to the development of the socio-economic sphere of Azerbaijan.
In accordance with State Statistics Committee of Azerbaijan, this is 2.7 percent less than the year before. In the structure of investments 3.2 billion manat ($1.9 billion) or 54.2 percent of the used funds were directed to the non-oil sector of the country. Moreover, 452 million manat ($265.8 million) or 14.1 percent of the funds were spent directly to the non-oil industry.
Industrial production decreased by 1.5 percent to 18.4 million manat ($10.8 million), while non-oil production increased by 11.2 percent to 5.7 million manat ($3.3 million).
The total revenue forecast for the state budget of Azerbaijan in 2020 is 24.1 billion manat ($14.1 billion) and expenditures 26.9 billion manat ($15.8 billion).
Budget deficit of Azerbaijan for 2020 is projected at 2.7 billion manat ($1.5 billion), or 3.3 percent of GDP.
State budget revenues of Azerbaijan in 2019 amounted to 24.2 billion manat ($14.2 billion) or 104.5 percent of the forecast, which is 1.7 billion manat ($1 billion), or 7.6 percent more than in 2018.
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