During 6 months, 2016 incomes of the consolidated budget totaled 9,626,700 AZN, while expenses – 8,226,100 AZN, reported the Azerbaijan Finance Ministry.
Incomes of the state budget totaled 6,133,800 AZN against the forecast of 7,771,500 AZN. The state budget expenses constituted 88.8% and totaled 6,821,500 AZN. As a result of that the budget deficit totaled 687,700,000 AZN.
The Taxes Ministry’s proceeds totaled 3,190,100 AZN. The non-oil sector ensured 77.8% or 2,481,100 AZN of incomes (+10.8% against the same period in 2015).
According to Turan, during this period incomes of the state budget from the oil industry totaled 2,469,000 AZN (4,618,600 AZN during 6 months, 2015), of which 709 million AZN (1,057 million AZN) has been paid by the oil companies and 1,760 million AZN (3,561,600 AZN) was transferred from the Oil Fund. The transfers from the Oil Fund were down 51.7% against the forecast.
The State Customs Committee ensured 995,400,000 AZN of proceeds to the state budget (+30.1%).-0—
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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