Azerbaijan's consolidated budget has surplus of $2.3billion

Azerbaijan's consolidated budget has a surplus of 4 billion manats ($2.3bn).

For five months of this year, the consolidated budget revenues have amounted to 15.54 billion manats ($9.1bn), which is 3 billion manats ($1.7bn) or 24.2 per cent more than in the same period last year, Report informs, citing the Azerbaijani Finance Ministry.

The expenses of the consolidated budget amounted to 11.65 billion manats, which is 1.5 billion manats or 15.2 per cent more than in the same period last year.

For five months of this year, the consolidated budget was projected with a deficit of 2.17 billion manats, but in fact, a surplus of 3.89 billion manats was formed.

"According to the operational data of the execution of the state and consolidated budgets, for the five months of this year, the state budget revenues amounted to 12.44 billion manats or 110.8 per cent against the forecast of 11.22 billion manats, which is 2.7 billion manats or 27.8 per cent more than in the same period of 2021.

According to the document, in the five months of this year, the non-oil sector accounted for 6.35 billion manats of state budget revenues, which is 1.59 billion manats or 33.4 per cent more than in the same period of 2021.

The share of revenues from the non-oil sector in the structure of state budget revenues amounted to 51.1 per cent, an increase of 6.2 percentage points relative to the forecast indicator (44.9 per cent).

In five months, the state budget expenditures were fulfilled by 10.45 billion manats or 100.7 per cent against the forecast of 10.38 billion manats, which is 1 billion manats or 11.6 per cent more than in the same period last year.

During the reported period, a surplus of 1.99 billion manats was formed in the state budget, which is 1.14 billion manats or 2.4 times more than the forecast," the ministry said in a statement.