Azerbaijan reduces surplus of consolidated budget by nearly 60%
In the first quarter of 2024, revenues to the consolidated budget of Azerbaijan totalled AZN 12.6 billion, or USD 7.4 billion, and budget deductions - AZN 9.3 billion, or USD 5.5 billion.
This was reported by the Ministry of Finance.
The report said this is down by 18.9% and up by 23.7% from the same period in 2023, respectively.
As a result, a surplus of AZN 3.3 billion was formed in the consolidated budget. This is down by 58.5% from a year ago.
Finance
-
The analysis shows that the economic growth in Azerbaijan in 2026-2028 will be fully ensured at the expense of the non-oil and gas sector.This is stated in the conclusion of the Accounting Chamber on the Draft Law ‘On State Budget for 2025’.
-
In January-August 2024, two state financial institutions of Azerbaijan jointly paid dividends in the amount of AZN 169.9 million, or about $100 million. This is stated in the conclusion of the Accounting Chamber over the Draft Law ‘’On State Budget for 2024‘’.
-
President Ilham Aliyev's decree of 28 March 2022 ‘On Approval of the Upper Limit of Ratio of Non-oil Base Budget Deficit to Non-oil Gross Domestic Product (GDP)’ is not honoured.This is stated in the conclusion of the Accounting Chamber on the Draft Law ‘On State Budget for 2025’.
-
In 2025, the subsistence minimum in Azerbaijan will amount to AZN 305 for able-bodied population, AZN 232 for pensioners and AZN 246 for children. This is stated in the Draft Law ‘On Subsistence Minimum for 2025’.
Leave a review