BAKU, Azerbaijan, August 14. Azerbaijan's state budget has recorded a surplus from January through July 2024, Trend reports.
According to the State Statistics Committee of Azerbaijan, state budget revenues for this period totaled 22.584 billion manat or $13.284 billion, marking a 20.3 percent increase compared to the same period last year.
State budget expenditures amounted to 19.458 billion manat or $11.445 billion, which is 10.4 percent higher than the figure for the same period in 2023.
As a result, a surplus of 3.126 billion manat or $1.838 billion, was achieved by the end of July 2024.
Azerbaijan's nominal GDP for the period was 70.544 billion manat, or $41.496 billion.
State budget execution from January through July 2024:
|
January-July, manat |
January-July 2024/January-July 2023, % |
January-July 2023/January-July 2022, % |
|
|
Revenues |
22.58 billion ($13.28 billion) |
120.3 |
104.8 |
|
Expenses |
19.45 billion ($11.44 billion) |
110.4 |
114.9 |
|
Surplus |
3.12 billion ($1.84 billion) |
- |
- |
To note, in 2023, Azerbaijan's state budget revenues increased by 16 percent, reaching 35.574 billion manat ($20.91 billion). State budget expenditures totaled 36.458 billion manat ($21.43 billion), which is 13.7 percent higher than in the period from January through December 2022.
As a consequence, the state budget was in the red with a whopping deficit of 883.7 million manat ($519.8 million) by the close of December 2023.