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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 2017

Information (operative) on the execution of the state budget for six months of 2017

14.07.2017

 

Incomes of the state budget for six months of 2017 made 7,722.8 million manat, while its expenditures made 8,193.9 million manat, i.e. the budget deficit was equal to 471.1 million manat.

 

Incomes
Incomes of the state budget were executed for 7,722.8 million manat against forecast or 102.3 percent during six months of 2017, which is 25.9 percent or 1,589.0 mln. manat more compared to the same period of 2016.
The Ministry of Taxes of the Republic of Azerbaijan transferred 3,353.0 million manat to the state budget executing the income forecast for 102.5 percent, which is 5.1 percent or 162.9 mln. manat more compared to the same period of of the previous year.
71.7 percent or 2,404.4 million manat of the above amount is made at revenues from non-oil sector.
The State Customs Committee of the Republic of Azerbaijan has executed the forecast for 111.9 percent and transferred 1169.2 million manat during six months of 2017, which is 17.5 percent or 173.8 million manat more compared to the same period of the previous year.
59.0 mln. manat less or 2,991.0 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 151.0 million manat, which is 18.6 percent or 23.7 mln. manat more compared to the same period of 2016.
58.6 million manat to the budget was transferred from other revenues.
Incomes of the state budget were executed for 4,131.1 mln. manat in April to July 2017, which is 68.3 percent or 1,675.8 million manat more compared to the same period of the previous year.

Expenditures
Expenditures of the state budget for six months of 2017 were executed for 100.2 percent or 8,193.9 million manat instead of the forecast, which is 20.1 percent or 1,372.4 million manat more compared to the same period of 2016.
42.7 percent or 3,499.9 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 18.3 percent or 541.4 mln. manat more in comparison with the same period of the previous year.
Furthermore, 397.8 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, 1,180.8 mln. manat for construction and renovation of energy, water supply, gas, transportation, water, air and metro transport, utilities, melioration infrastructure and other fields, including 41.5 mln. manat for financing of investment projects implemented in the Autonomous Republic of Nakhchivan during six months of the current year.
The obligations assumed by treasury agencies as per expense orders submitted by budget organizations were completely and timely financed during six months of 2017.
Expenditures of the state budget were executed for 4,281.2 mln. manat in April to July of the current year, which is 2.0 percent or 83.1 million manat more compared to the same period of the previous year.

Deficit
471.1 mln. manat budget deficit emerged in six months of 2017. The state budget deficit has been covered mainly at the balance of the single treasury account for January 01, 2017 and receipts from privatization.

Consolidated budget
Incomes and expenditures of the consolidated budget were executed for correspondingly 11,606.1 and 11,507.1 mln. manat during the first quarter of the current year. The surplus of the consolidated budget made 99.0 mln. manat.