BAKU, Azerbaijan, January 17. Azerbaijan's state budget saw a significant shortfall from January through December 2024.
Data obtained by Trend from the State Statistics Committee of Azerbaijan indicates that Azerbaijan’s state budget revenues surged to over 37.1 billion manat ($21.8 billion) for the reporting period, reflecting a 5.5 percent increase compared to the same period in 2023.
Government expenditures for the same period totaled approximately 37.7 billion manat ($22.1 billion), a 3.5 percent rise from the prior year.
Despite this increase in spending, the revenue growth outpaced expenditures, resulting in a budget deficit of 555.5 million manat ($326.7 million) by the end of December 2024.
The nominal GDP for Azerbaijan during this time frame was reported at 126.3 billion manat ($74.2 billion).
State budget execution in January-December 2024
|
Titles of articles |
From January through December 2024 (manat) |
Ratio of January-December 2024 to January-December 2023 (percent) |
Ratio of January-December 2023 to January-December 2022 (percent) |
|
Revenues |
37.1 billion manat ($21.8 billion) |
105.5 percent |
114.9 percent |
|
Expenses |
37.7 billion manat ($22.1 billion) |
103.5 percent |
113.7 percent |
|
Surplus |
555.5 million manat ($326.7 million) |
- |
- |
In 2023, Azerbaijan's state budget revenues increased by 16 percent, reaching 35.5 billion manat ($20.9 billion). However, expenditures also rose significantly, reaching 36.4 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.