Azerbaijan’s state budget revenue exceeded a forecast in the first quarter of 2021 by 0.4 percent and amounted to 5.736 billion manats ($3.374 billion), the  Finance Ministry said.

Tax revenues totalled 2.086 billion manats, 21.1 percent more than a forecast.

In the structure of tax revenues, 72.2 percent or 1.507 billion manats came from the non-oil sector.

The oil-rich country’s State Oil Fund transferred 2.514 billion manats, 17.6 percent less than the forecast amid exceeded total budget revenues.

Azerbaijan’s state budget forecasts revenues in amount of 25.427 billion manats in 2021.

Expenditure in the first three months of this year exceeded forecasts by 2 percent and amounted 5.415 billion manats.

The state budget projects spending this year in amount of 28.543 billion manats.