The state budget of Azerbaijan is made in the first half of the year with a large surplus
The state budget of Azerbaijan in the first half of this year was executed with a surplus of 1,024 million manat.
"Budget revenues for the six months amounted to 8134 million, and performed in excess of the forecast by 6.2%. At the same time it is 2,525 million or 45% more than during the corresponding period last year. Expenses were performed at 91.4% or 7,110 million manat," said at a meeting held July 11 Government Finance Minister Samir Sharifov.
According to the minister, through the Ministry of Taxes the treasury received 2,968 million manat, including 1,663 million manat or 55% due to the non-oil sector of the economy. The forecast was also managed by the State Customs Committee that contributed 557 million manat to the budget. Transfers from the State Oil Fund in accordance with the plans amounted to 4,592 million manat, and other income to the budget equaled 17 million manat.
In the structure of expenditure - 2,300 million, 32.3% accounted for social events. That's 370 million manat or 19.2% more than in January-June last year. - 15D -
Economics
-
Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
-
As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
-
Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
-
Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
Leave a review