Ministry of Finance Reported on Implementation of State Budget 2016

The Ministry of Finance of Azerbaijan has issued a report on the execution of the state budget for 2016.

The state budget revenues amounted to 21 billion 581.6 million manat and the expenditures were 21 billion 406 million manat.

State budget revenues were executed at 104% or 17 billion 501.2 billion manat against the forecast of 16 billion 822 million manat.

Revenues to the state budget by the Ministry of Taxes were performed at 100.1%, or 7 billion 015.2 million manat. 77.1% or 5 billion 408.2 million manat of this accounted for the non-oil sector.

The Customs Committee fulfilled the forecast at 126.6% and provided revenue to the state budget of 2 billion 291.6 million manat.

Budget revenues from paid services of organizations financed from the state budget amounted to 239.1 million manat, from the re-measurement of financial assets 130 900 000 manat, from the repayment of loans and on state guarantees 68,800,000 manat,  from foreign loans AZN 54.2 million, from sanctions and fines 40.4 million manat, and from other income 92,200,000 manat.

Transfers from the State Oil Fund to the state budget amounted to 7 billion 615 million manat.

State budget expenditures were executed at 95.9% or 17 billion 742.4 million manat.

AZN 11 billion 693 million of the budget expenditures, or 65.9%, was current expenses, 4 billion 283.9 million manat was capital expenditures, 1 billion 765.5 million manat or 10% was for debt service and liabilities.

35.2%, or 6 billion 237.4 million manat was directed to financing of social spending.

The budget deficit amounted to 242.1 million manat. ----71D