During quarter 1, 2014 share of oil and gas industry in state budget constituted about 70%
During quarter 1, 2014 revenues of the state budget of Azerbaijan totaled 4,482,700,000 AZN, said Azerbaijani Minister of Taxes Fazil Mammadov at the session of the government devoted to the results of quarter 1, 2014.
He said 2,342,600,000 AZN of the state budget revenues came from the State Oil Fund of Azerbaijan (SOFAZ).
Therefore, share of SOFAZ in the state budget in quarter 1, 2014 constituted 52.26%.
Minister also said that during this period the state budget received 1,482,700,000 AZN from the Taxes Ministry and 330,400,000 AZN from the State Customs. “Considering SOFAZ’s transfers, 36.7% of earnings of the state budget came from the oil and gas industry and 63.3% from the non-oil industry,” Mammadov added.
Considering Minister’s data, during quarter 1, 2014 the oil companies, including the State Oil Company of Azerbaijan (SOCAR), have paid 785,417,000 AZN to the state budget.
Therefore, the share of the oil and gas industry in the state budget, including transfers of SOFAZ, constituted 69.78% (3,128,700,000 AZN).—0-
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