Finance Minister: "Tax and customs authorities fulfilled budget forecast by 124% in Q1"

In the first quarter of this year, Azerbaijan's state budget revenues exceeded the forecast by 539 million manats or 23.8% for the State Tax Service under the Ministry of Economy, and 236 million manats or 23.7% for the State Customs Committee, Minister of Finance Samir Sharifov said at a meeting chaired by President Ilham Aliyev on the outcomes of the first quarter of this year.

"Execution of social insurance premiums amounted to 1,041 million manats against the forecast of 961 million manats. Nearly 90% of the over-fulfillment of the State Tax Service's forecasts is due to the increase in revenues from the non-oil sector. In general, revenues from the non-oil sector accounted for more than 80% of total quarterly revenues. In this situation, the transfers of the State Oil Fund to the state budget were executed at 2,757 million manats against 3,180 million manats. This is because the performance of the state budget was very high," the minister noted.