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2012 budget deficit in Azerbaijan was 4.7 times lower than forecast

2012 budget deficit in Azerbaijan was 4.7 times lower than forecast

24 May 2013 09:05 (UTC +04:00)

Baku. Ali Ahmadov – APA-Economics. 2012 budget deficit in Azerbaijan was 4.7 times lower than forecast, said the Minister of Finance Samir Sharifov.

According to him, though state budget was affirmed with the deficit of AZN 634 mln, as a result of overfulfillment of income forecast and saving in expenditures, there was no need to use budget deficit financing sources. In connection with this, budget deficit made AZN 135 mln. Consequently, budget deficit was 0.3% of GDP, down 1.1 percentage points from forecast.

He added that as of December 31, 2012, AZN 465 mln of funds remained in the single treasury account of the state budget and these funds are offered direct to cover the costs which can be created on financing of budget deficit and service to public debt.

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