The Ministry of Finance through the State Statistics Committee released operational data on the execution of the state budget in H1, 2016, according to which the deficit amounted to 687.7 million AZN, which corresponds to 2.5% of GDP.
State budget revenues for January-June amounted to 6 billion 133.8 million manats, while expenses were 6 billion 821.5 million manats... Expenditures exceeded revenues by 11.2%.
Relatively detailed information is provided on the execution of the state budget for five months. At the same time at a cost of about 5.3 billion manats, the surplus amounted to 137.7 million manats.
Revenues of the state budget in January-May 2016 amounted to 5.4 billion manats, or 15% less than in the period in 2015. Expenditures for the period decreased 27.5% (2 billion 15 million AZN).
According to the report, in contrast to the two areas, health financing decreased (-35.8 million AZN) as well as government investment (-2 billion 885.2 million manat), etc.
Mainly due to the financing of the automobile race Formula 1, costs of sport, culture and art increased 3.6 times - 344.6 million manats. ----08B
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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