Azerbaijan’s state budget revenues significantly exceed forecast: Minister
Azerbaijan's state budget revenues have significantly exceeded the forecast, the country’s finance minister said on Friday.
Minister Samir Sharifov made the remarks while speaking at a joint meeting of the parliamentary committees on economic policy, industry and entrepreneurship, and on labor and social policy during the discussion of amendments to the law "On the State Budget of the Republic of Azerbaijan for 2023", News.Az reports.
The minister noted that it provides for the repayment of obligations under international aid programs and international treaties, the application of a new approach to public debt management and the implementation of a number of other necessary public expenditures.
"A significant excess of state budget revenues for the past period of this year compared to the forecast, updating the forecast of socio-economic development of Azerbaijan's economy made last fall," he said.
“An increase in GDP by 5.6 billion manat ($3.2 billion) compared to the previous forecast determines the appearance of additional financial resources in the state budget this year and their distribution," Minister Sharifov added.
The revenues of the revised state budget for 2023 are projected at 33.7 billion manat ($19.8 billion), which is three million manat or $1.7 billion (9.8 percent) more than the approved figure.