Tax revenues to Azerbaijan’s state budget exceeded forecast by 31.7 percent or 780.7 million manats ($495 million), Mikayil Jabbarov, the economy minister, wrote on his Facebook page.

The minister wrote that 451 million manats were revenues from the non-oil and gas sector.

The country’s 2021 state budget sees revenues at 25.427 billion manats, expenditures – at 28.543 billion manats in 2021. The budget deficit for this year is projected at 3.116 billion manats or 4.1 percent of gross domestic product.