The Ministry of Finance makes preliminary report on the budget execution in 2015

The Minister of Finance Samir Sharifov reported about Azerbaijan's state budget revenues and expenditures in the past year. According to him, "people money box" missed 2.3 billion manats (11.6%), due to the reduction in transfers to the State Oil Fund (SOFAZ) as a result of the sharp decline in oil prices on world markets, and therefore it was decided to save foreign exchange reserves fund. 

According to him, revenues from non-oil sector amounted to 6.95 billion manat (3% or 200 million AZN) to the forecast. The tax revenue share of this segment of the economy amounted to 40.5%.

"Keeping the priority of social expenses for this purpose was sent 32.1% of budget expenditures or 5.752 billion manats,"  said Sharifov.

Last year, spending on education amounted to 1.605 billion manats, health care - 708 million manat, social protection and support - 1 billion 857 million manats. On increasing the defense capability and security of the country, ensuring the social protection of servicemen in 2015 was sent to 17.9% of budget expenditure,  on the budget of the Nakhchivan Autonomy – 331.000.000 manat, including 33 million manat for investment projects; for the state capital investments were allocated 3 billion 659 million manats. To finance major infrastructure projects through loans raised by the government were sent to 1.7 billion manat, SOFAZ funds - 994 million manats.  The state budget revenues for 2015 were approved at the level of 19 billion 438 million manat, expenses - 21.1 billion manat with a deficit of 1 billion 662 million manat (2.8% of GDP). - 17D-