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“Standard and Poor’s” agency kept the international loan rating of Azerbaijan as stable in a special assessment***The Milli Majlis adopts a law on the execution of the state budget for 2016***Ministry of Finance recommends referring to official data in statements about IBA***

Information (operative) about execution of the state budget for 6 months of 2015

Information (operative) about execution of the state budget for 6 months of 2015

21.07.2015

 

The incomes of the state budget for six months of 2015 were 7,807.2 million manats, the expenditures were 8,577.9 million manats, e.g. there was a budget deficit in amount of 700.7 million manats.

 

Incomes
The incomes of the state budget were executed for 7,807.2 million manats instead of forecasted 7,717.0 million manats or 1.2 percent more during six months of 2015.
The Ministry of Taxes of the Republic of Azerbaijan transferred 3,328.8 million manats to the state budget executing the income forecast for 100.2 percent.
68.3 percent or 2,275.0 million manats of the above amount is made at revenues from non-oil sector, which is 11.4 percent more in comparison to the same period of 2014.
The State Customs Committee of the Republic of Azerbaijan has executed the forecast for 100.3 percent during six months of 2015 and transferred 765.3 million manats, which is 32.5 million manats or 4.4 percent more compared to the same period of the previous year.
Revenues from chargeable services of budget organizations made 110.1 million manats.
41.4 million manats to the budget was transferred from other revenues.
3,561.6 million manats was transferred to the budget from the State Oil Fund of the Republic of Azerbaijan.

Expenditures
The expenditures of the state budget for six months of 2015 were executed for 8,577.9 million manats or 85.0 percent compared to the forecast, and all the main objectives set forth were implemented successfully.
During six months of 2015, 4,423.2 million manats or 51.6 percent of expenditures of the state budget was allocated to current expenses. Current expenses include wages of employees of budget organizations, pensions and social allowances, payments for utilities, communication and renovation services and other necessary costs. 3,855.3 million manats or 44.9 percent of expenditures of the state budget was allocated for capital expenses. Capital expenses were spent to the financing of social and infrastructure projects implemented in the country, purchase of key materials, installations and equipments, special government procurements and other capital payments.
299.4 million manats or 3.5 percent of total expenditures was allocated for costs related to maintenance of state debts and commitments (payments on due state debts and interests).
The deficit of the state budget was 770.7 million manats during six months of the current year. The deficit was covered at remainder of the single treasury account of the state budget for January 1, 2015 and revenues from privatization in accordance with the Law of the Republic of Azerbaijan on the “State budget of the Republic of Azerbaijan for 2015”.
The incomes and expenditures of the state budget were executed correspondingly for 3,868.4 million manats and 4,388.0 in the second quarter (April to July) of 2015.

Summary budget
The incomes and expenditures of the summary budget were executed correspondingly for 9,035.4 million manats and 9,907.1 million manats during six months of the current year.