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Azerbaijan sees AZN 251mln-deficit in Q1 state budget

14 April 2015 12:35 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. In the first quarter of 2015, state budget receipts made AZN 3,938.8 mln, expenditures – AZN 4,198.8 mln, Consequently, budget deficit made AZN 251 mln.

APA-Economics reports that In January-March, state budget receipts was fulfilled by 101% or AZN 3,938.8 mln against AZN 3,900.8 mln-forecast.

Ministry of Taxes fulfilled forecast by 102.6% transferring AZN 1,594.8 mln. Of this, 69.5% or AZN 1,051.6 mln came from non-oil sector, up 4.6 percentage points from 2014.

State Customs Committee fulfilled forecast by 100.5% transferring AZN 341.9 mln to the state budget, up AZN 11.5 mln or 3.5% from a year earlier.

Receipts from paid services of budget-financed organizations made AZN 48.6 mln. AZN 11.8 mln was transferred from other receipts, up AZN 1.4 mln or 13.5% in comparison to a year earlier.

SOFAZ transfers stood at AZN 1,941.7 mln.

Budget expenditures made AZN 4,189.8 mln against forecast.

According to economic classification, 33% or AZN 1,380.6 mln of state budget expenditures was directed social expenses, up 8.5% or AZN 108.7 mln.

According to functional classification, defence spending made 24.2% (AZN 96.5 mln), economic expenditures - 13% (AZN 7.7 mln), health expenditures – 7% (7.8 mln), and social protection and social security –AZN 7.4 mln.

During three months of 2015, AZN 507.7 mln went to construction and reconstruction of the education, science, health culture, sport and other socio-cultural objects, residential houses and other social objects, AZN 911.6 mln – to construction and reconstruction of energy, water and gas supply, transport, community, melioration infrastructures and other spheres.

AZN 10.2 mln was spent to financing of investment projects in Nakhchivan Autonomous Republic.

AZN 251.0 mln deficit was compensated by receipts from residual of single treasury account and privatization.

During the reporting period, the incomes of consolidated budget were fulfilled by AZN 4,367.2 mln, expenditures – by AZN 4,967.2 mln.