Azerbaijan’s budget deficit nears AZN 370M

In January-April 2017, revenues of state budget amounted to AZN 5,021,900,000, expenditures to AZN 5,390,000,000.

According to Finance Ministry, budget deficit stood at AZN 368.1 million or 1.8% of GDP.

In the first quarter of 2017, AZN 3,591,700,000 was transferred to the state budget, AZN 3,912,700,000 was spent. Budget deficit made up AZN 321 million or 2.1% of GDP.

According to ministry, 20.6% of transfers came from value added tax, 12.4% from profit tax of legal entities, 5.7% from income tax of individuals, 4.1% from excises, 11.1% from other taxes, 46.1% from non-tax incomes.

26.1% of budget expenditures went to development and regulation of economy, 16.4% to social protection and social security, 15.7% to general state services, 11.3% to education and health, 30.5% to other spheres. APA