State Budget Deficit in H1 Amounted to 11% of Revenues

The Ministry of Finance published a report on the operational performance of the state budget of Azerbaijan. Budget revenues (6 billion 133.8 million AZN) were performed at 78.9% in the first half of the year, and expenses (6 billion 821.5 million AZN) - at 88.8% with a deficit of AZN 687.7 million.

In the consolidated budget a surplus of 1 billion 36.6 million AZN was recorded (income amounted to 9 billion 262.7 million, expenditures - 8 billion 226.1 million AZN).

Income in transfers from the State Oil Fund amounted to 1.76 billion AZN or 28.7% of all budget revenues. The Ministry of Taxes contributed 3 billion 190.1 million AZN, and the State Customs Committee - AZN 995,400,000.

The leader in expenditure (43.4%) is the social sphere (the wage fund of state employees, pensions and social benefits, food and medical costs), which accounted for 2 billion 958.5 million AZN.

The construction and reconstruction of costly objects was spent 103.1 million manat, the construction of energy infrastructure, water and gas, transportation, utilities and land reclamation was spent 532 million AZN, and the financing of investment projects in the Nakhchivan Autonomous Republic was spent 19.1 million AZN.   --17D-