BAKU, Azerbaijan, October 16. The state budget of Azerbaijan recorded a notable surplus from January through September 2024.
Data obtained by Trend from the State Statistics Committee of Azerbaijan indicates that Azerbaijan’s state budget revenues surged to over 27.7 billion manat ($16.2 billion) for the reporting period, reflecting a 25.6 percent increase compared to the same period in the previous year.
Government expenditures for the same period totaled approximately 25.1 billion manat ($14.7 billion), an 8.4 percent rise from the prior year.
Despite this increase in spending, the revenue growth outpaced expenditures, resulting in a budget surplus of 2.56 billion manat ($1.50 billion) by the end of September.
The nominal GDP for Azerbaijan during this time frame was reported at 92.8 billion manat ($54.6 billion).
|
Titles of articles |
From January through September 2024 (manat) |
Ratio of January-September 2024 to January-August 2023 (percent) |
Ratio of January-August 2023 to January-August 2022 (percent) |
|
Revenues |
27.7 billion manat ($16.2 billion) |
125.6 percent |
98.6 percent |
|
Expenses |
25.1 billion manat ($14.7 billion) |
108.4 percent |
113.4 percent |
|
Surplus |
2.5 billion manat ($1.47 billion) |
- |
- |
In 2023, Azerbaijan's state budget revenues increased by 16 percent, reaching 35.574 billion manat ($20.9 billion). However, expenditures also rose significantly, reaching 36.458 billion manat ($21.4 billion), a 13.7 percent increase compared to the figures from January through December 2022.
As a result of this fiscal imbalance, the state budget recorded a deficit of approximately 883.7 million manat ($519.8 million) by the end of December 2023.