Minister of Finance of the Republic of Azerbaijan Samir Sharifov made a business visit to the Islamic Republic of Pakistan, the United Arab Emirates (UAE) and India on February 19-21***As of January 1st, 2018, the external public debt of the Republic of Azerbaijan constituted 9,398.3 million US dollars (equivalent 15,978.1 million manat). The Debt to the Gross Domestic Product ratio stands at 22.8 percent (based on 2017 GDP of AZN 70,135.1 mln)******

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

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

25.01.2017

Incomes of the state budget for 2016 made 17,501.2 mln. manat, while expenditures made 17,742.4 mln. manat.
Incomes
Incomes of the state budget for 2016 were executed for 17,501.2 mln. manat instead of forecasted 16,822.0 mln. manat or for 104,0 percent.
The Ministry of Taxes of the Republic of Azerbaijan transferred 7,015.2 mln. manat to the state budget executing the income forecast for 100.1 percent.
Revenues from the non-oil sector share 77.1 percent or 5,408.2 mln. manat of this funds, which is 379.8 mln. manat or 7.6 percent more compared to 2015.
The State Customs Committee of the Republic of Azerbaijan has executed the forecast for 126.6 percent in 2016 and transferred 2,291.6 mln. manat, which is 699.7 mln. manat or 44.0 percent more in comparison with 2015.
During the year of 2016, 239.1 mln. manat entered the state budget from chargeable services of the organizations funded from the state budget, 130.9 mln. manat from the revaluation of financial assets, 68.8 mln. manat from repayment of loans and on state guarantees provided, including 54.2 mln. manat on foreign loans, 40.4 mln. manat from the imposition of financial penalties and sanctions and 92.2 mln. manat from other revenues.
The State Oil Fund of the Republic of Azerbaijan transferred 7,615.0 mln. manat to the budget, which is 515.0 mln. manat and 6,3 percent less compared to 2015.
Incomes of the state budget were executed for 7,398.1 mln. manat in October to December 2016.
Expenditures
Expenditures of the state budget were executed for 17,742.4 mln. manat or 95.9 percent in 2016.
Expenditures of the state budget were executed for 7,120.2 mln. manat in October to December 2016.
During the year of 2016, 11,693.0 mln. manat or 65.9 percent of expenditures of the state budget were allocated for current expenses, 4,283.9 mln. manat or 24.1 percent for capital expenditures and 1,765.5 mln. manat or 10.0 percent for expenditures related to maintenance of state debts and commitments.
35.2 percent or 6,237.4 mln. manat of expenditures of the state budget was allocated to financing of social costs (labor payment fund, pensions and social benefits, medicines and food costs), which is 571.5 mln. manat or 10.1 percent more compared to 2015.
The deficit of the state budget made 242.1 mln. manat.
Consolidated budget
Incomes of the consolidated budget for 2016 were executed for 21,581.6 mln. manat, while expenditures for 21,406.0 mln. manat.