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)******

The Milli Majlis adopts a law on the execution of the state budget for 2016

The Milli Majlis adopts a law on the execution of the state budget for 2016

31.05.2017

The Law on the “Execution of the state budget for 2016 of the Republic of Azerbaijan” was adopted on May 31, 2017 in the Milli Majlis of the Republic of Azerbaijan.
Incomes of the state budget for 2016 were executed for 17,505.7 or 104.1 percent million manats instead of forecasted 16,822.0 million manats.
Non-oil sector shares 47,3 percent of incomes of the state budget for 2016, which is 5,7 percent-item more compared to correspondingly 2014.
Expenditures of the state budget for 2016 were executed for ,.3 million manats or 96.0 percent instead of forecasted 18,495.0 million manats.
11,698.4 million manats or 65.9 percent of expenditures of the state budget for 2016 were allocated to current expenditures, 4,283.8 mln. manats or 24.1 percent to capital expenditures and 1,769.1 mln. manats or 10.0 percent to expenditures related to maintenance of state debts and commitments according to their structures.
Incomes of the consolidated budget for 2016 were executed for 21,573.0 million manats or 137.1 percent instead of forecasted 137.1 million manats, while its expenditures were executed for 21425.7 million manats or 87.2 percent instead of forecasted 24,566.7 million manats. In fact, there was surplus of 147.3 million manat instead of forecasted deficit of 8,827.8 mln. manats.