Azerbaijan's state budget deficit for January-September 2016 amounted to 519.1 million manat or 4.9% of the costs.
According to the Ministry of Finance, in the first nine months of this year, the state budget revenues amounted to 10 billion 103.1 million manat (decline compared with January-September last year by 16.3%), and the costs - 10 billion 622.2 million manat (decrease by 12. 6%).
In the budget revenues taxes amounted to 4 billion 926.3 million manat (the forecast was implemented by 100.2%), and the State Customs Committee provided 1 billion 653.8 million manat (the forecast was implemented at 125.6%).
Transfers to the state budget from the State Oil Fund (SOFAZ) in the reporting period amounted to 3.26 billion manat (the forecast was implemented by 42.8%), and the rest was other income.
Azerbaijan's state budget revenues for 2016 are projected at $ 16 billion 822 million manat, the expenses – at 18 billion 495 million manat, and the deficit – at 1 billion 673 million manat or 2.9% of GDP. -0--
Economics
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On December 27, Azerbaijani President Ilham Aliyev has signed a decree to dissolve the Azerbaijan Industrial Corporation (ASK) and transfer its key assets to the Azerbaijan Investment Holding (AIH), marking a significant step in streamlining the management of state-owned enterprises. The decision, effective immediately, aims to address regulatory issues and enhance operational efficiency.
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