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“Standard and Poor’s” agency kept the international loan rating of Azerbaijan as stable in a special assessment***The Milli Majlis adopts a law on the execution of the state budget for 2016***Ministry of Finance recommends referring to official data in statements about IBA***

Information (operative) on the execution of the state budget for six months of 2016

Information (operative) on the execution of the state budget for six months of 2016

18.07.2016

 

Incomes of the state budget for six months of 2016 made 6,133.8 million manat, while its expenditures made 6,821.5 million manat, e.g. the budget deficit was equal to 687.7 million manat.

 

Incomes
Incomes of the state budget were executed for 6,133.8 million manat instead of forecasted 7,771.5 million manat or 21.1 percent more during six months of 2016.
The Ministry of Taxes of the Republic of Azerbaijan transferred 3,190.1million manat to the state budget executing the income forecast for 102.0 percent.
77.8 percent (10.6 percent-item more than the same period of the previous year) or 2,481.1 million manat of the above amount is made at revenues from non-oil sector, which is 242.7 mln. manat or 10.8 percent more in comparison to the same period of 2015.
The State Customs Committee of the Republic of Azerbaijan has executed the forecast for 118.2 percent during six months of 2016 and transferred 995.4 million manat, which is 230.4 million manat or 30.1 percent more compared to the same period of the previous year.
1,886.0 mln. manat (51.7 percent) less or 1,760.0 mln. manat was spent from the transfers of the State Oil Fund of the Republic of Azerbaijan to the state budget.
Revenues from chargeable services of budget organizations made 127.3 million manat.
56.9 million manat to the budget was transferred from other revenues.
Incomes of the state budget were executed for 2,455.3 mln. manat in April to July 2016.

Expenditures
Expenditures of the state budget for six months of 2016 were executed for 6,821.5 million manat or 88.8 percent instead of the forecast.
43.4 percent or 2,958.5 mln. manat of expenditures of the state budget was allocated to funding of social costs (labor payment fund, pensions and social benefits, medicines and food costs) during six months of the current year in accordance with the economic classification, which is 7.7 percent or 211.2 mln. manat more in comparison with the same period of the previous year.
Furthermore, 103.1 mln. manat was allocated from state capital investment costs of the state budget for construction and renovation of education, health, social, cultural and other socio-cultural and household facilities, 532.0 mln. manat for construction and renovation of energy, water supply, gas, transportation, water, air and metro transport, utilities, melioration infrastructure and other fields, including 19.1 mln. manat for financing of investment projects implemented in the Autonomous Republic of Nakhchivan during six months of 2016.
The obligations assumed by treasury agencies as per expense orders submitted by budget organizations were completely and timely financed during six months of 2016.
Expenditures of the state budget were executed for 4,198.1 mln. manat in April to July 2016.

Consolidated budget
Incomes and expenditures of the consolidated budget were executed for correspondingly 9,262.7 and 8,226.1 mln. manat during the first quarter of the current year. The surplus of the consolidated budget made 1,036.6 mln. manat.