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
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Rising prices for electricity, natural gas and heat in Azerbaijan since the beginning of this year may have a significant impact on annual inflation at the level of 0.51 %.
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The Central Bank of Azerbaijan (CBA) forecasts that an average price of a barrel of oil in the world market in 2025 will be $77.3, and the price of 1000 cubic metres of natural gas - $349.
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The Central Bank of Azerbaijan (CBA) forecasts that by the end of 2025 the country's economic growth will be 3.3 %, including the production of gross domestic product (GDP) in the non-oil and gas sector to grow by 5.2 %.
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According to updated forecasts of the Central Bank of Azerbaijan (CBA), annual inflation is expected to be about 5.5 % in 2025 and about 3.8 % in 2026.This is reported on the CBA's website.
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