Azerbaijani state budget revenues exceed forecast - Finance Minister [UPDATE]

By Trend

In the first quarter, state budget revenues exceeded the forecast by 6.3 percent, Azerbaijani Finance Minister Samir Sharifov said on April 12 at a meeting chaired by President Ilham Aliyev, dedicated to the results of the first quarter of this year, Trend reports.

"In the first quarter, state budget revenues exceeded the forecast by 6.3 percent, or 418 million manats, with budget revenues amounting to 7.1 billion manats.

I would also like to note that the forecast on revenues has been exceeded by the State Tax Service by 539 million manats, or 23.8 percent, and by the State Customs Committee by 236 million manats, or 23.7 percent. On social insurance premiums, 1.41 billion manats was executed against the forecast of 961 million manats. I should note that the bigger share of over-fulfillment of forecasts for the State Tax Service, i.e. by about 90 percent, is due to increased revenues in the non-oil sector. In general, revenues from the non-oil sector in the first quarter accounted for more than 80 percent of total revenues and more than 80 percent of total tax revenues. Under such circumstances, the State Oil Fund transfers into the state budget were executed by 2.757 billion manats against the planned 3.180 billion manats, i.e. 13 percent, or 423 million manats less. This is due to the fact that state budget execution has been very high," the minister said.