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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 the first quarter of 2018

Information (operative) on the execution of the state budget for the first quarter of 2018

10.04.2018

Incomes of the state budget for the first quarter of 2018 made 4,562.9 million manat, while its expenditures made 4,408.0 million manat, i.e. the budget surplus (proficit) was equal to 154.9 million manat.
 

Incomes
Incomes of the state budget were executed for 4,562.9 million manat which is 134.4 mln. manat (3,0 percent) more than the forecasted 4,428.5 million manat during the first quarter of 2018.

The Ministry of Taxes of the Republic of Azerbaijan transferred 1,436.5 million manat to the state budget executing the income forecast for 100.1 percent, which is 1.1 percent or 15.8 million manat more compared to the same period of of 2017.

67.5 percent or 969.7 million manat of the above amount is made at revenues from non-oil sector.

The State Customs Committee of the Republic of Azerbaijan transferred 726.9 million manat during the first quarter of 2018, which is 27.3 percent or 155.8 million manat more compared to the same period of the previous year.

Revenues from chargeable services of budget organizations made 79.3 million manat.

21.2 million manat was transferred to the budget from other revenues, which is 71.0 percent or 8.8 million manat more compared to the same period of the previous year.

2,299.0 million manat was transferred from the State Oil Fund of the Republic of Azerbaijan.
 

 
Expenditures
Expenditures of the state budget for the first quarter of 2018 were executed for 12,783.7 million manat or 100.7 percent against the forecast.

40.0 percent or 1,761.3 million 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 three months of the current year in accordance with the economic classification, which is 7.7 percent or 125.6 mln. manat more in comparison with the same period of the previous year.

In expenditures of the state budget for the first quarter of 2018, current expenses shared 2,299.1 mln. manat or 52,2 percent, capital expenditures shared 1,627.2 mln. manat or 36.9 percent and costs related with the state debt and commitments shared 481.7 mln. manat or 10.9 percent. 

Furthermore, 168.9 million 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, 655.6 million manat for construction and renovation of energy, water and gas supply, transportation, water, air and metro transport, utilities, melioration infrastructure and other fields, including 21.2 million manat for financing of investment projects implemented in the Autonomous Republic of Nakhchivan during the first quarter of the current year.

The obligations assumed by treasury agencies as per expense orders submitted by budget organizations were completely and timely financed during the first three months of 2018.
 

 
Consolidated budget
Incomes of the consolidated budget were executed for 7,062.5 million manat during the first quarter of the current year, which is 1,412.9 mln. manat or 25.0 percent more compared to the same period of the previous year. Expenditures of the consolidated budget were executed for 4,757.9 million manat, which is 1,994.8 mln. manat or 29.5 percent less compared to the same period of the previous year.

The surplus (proficit) of the consolidated budget made 2,304.6 million manat.