State budget surplus hits $125.1m in 1Q2021 – MENAFN.COM

  • Date: 23-Apr-2021
  • Source: MENAFN
  • Sector:Economy
  • Country:Gulf
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State budget surplus hits $125.1m in 1Q2021 – MENAFN.COM

Azerbaijan's state budget surplus amounted to AZN 212. 7 million ($125. 1M) in the first quarter of 2021, the Finance Ministry has reported. In the first quarter of the year, state budget revenues amounted to AZN 5. 7 billion ($3. 3bn) which is by AZN 23. 5 million ($13. 8M) or 0. 4 percent more than forecasted. The State Tax Service under the Economy Ministry transferred AZN 2 billion ($1. 1bn) to the state budget, which is by 21. 1 percent more than forecasted and by 2. 2 percent more than in the same period of 2020. Some AZN 1. 5 billion ($882. 3M) of these funds fall on the share of revenues from the non-oil sector, which is by 7. 9 percent more than during the corresponding period of last year. Moreover, the State Customs Committee transferred AZN 943. 6 million ($555M) to the state budget in January-March this year, which is by 20. 2 percent more than the forecast. Transfers from the State Oil Fund of Azerbaijan to the state budget amounted to AZN 2. 5 billion ($1. 4bn) which is by 17. 6 percent less than forecasted. Furthermore, during the reporting period, state budget expenditures were executed