BAKU, Azerbaijan, Apr. 11
Trend:
The revenues of the consolidated budget in Azerbaijan amounted to 33.8 billion manat ($19.8 billion) in 2019, or 115.8 percent from the forecast, which is 2.9 billion manat ($1.7 billion) or 9.4 percent more compared to 2018, Trend reports citing a report on the activity of the Cabinet of Ministers.
According to the report, the expenses of the consolidated budget exceeded 26.5 billion manat ($15.5 billion) in 2019, or 96.9 percent of the forecast, which is 59.3 million manat ($34.8 million) more compared to 2018.
The surplus of the consolidated budget amounted to 7.3 billion manat ($4.2 billion), which is 5.4 billion manat ($3.1 billion) or 3.9 times more compared to the forecast in the amount of 1.8 billion manat ($1.06 billion).
At that, 46.9 percent or 11.3 billion manat ($6.6 billion) of budget revenues were received from the State Oil Fund (SOFAZ), 31.7 percent or 7.6 billion manat ($4.4 billion) - from the State Tax Service under the Ministry of Economy, 18.2 percent or 4.4 billion manat ($2.5 billion) - from the State Customs Committee (SCC), and 3.2 percent - from other sources in the amount of 761.5 million manat ($447.9 million).
Also, 29.2 percent of total revenues were received from the oil and gas sector in the amount of 2.2 billion manat ($1.2 billion). Accordingly, 70.8 percent or 4.9 million manat ($2.8 million) came from the non-oil sector against the forecast in the amount of 5.4 billion manat ($3.1 billion).
In 2019, the state budget revenues 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 compared to 2018.
