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Public budget of Azerbaijan (January-October 2014)

Analysis Materials 9 December 2014 15:33 (UTC +04:00)

In January-October 2014, actual revenues to the state budget of Azerbaijan totaled 15.786 billion AZN (32.1 percent of GDP), or 2.8 percent less compared to the same period of last year.

State budget expenditures decreased by 1.1 percent and amounted to 13.86 billion AZN (28.2 percent of GDP). The budget surplus for January-October amounted to 1.925 billion AZN or 3.9 percent of GDP. This is by 13 percent less than in the same period of 2013.

In the structure of revenues, 38.9 percent (6.145 billion AZN) were ensured through the Ministry of Taxes. Revenues from customs duties and taxes totaled 1.256 billion AZN (with a weight of 8 percent), through other sources - 8.385 billion AZN (53.1 percent). Tax collections increased by 6.5 percent, customs charges - by 10.8 percent, and revenue from other sources decreased by 10.2 percent compared to January-October 2013.

During the reporting period, some 2.512 billion AZN were transferred to the state budget from the value added tax, which is 15.9 percent of total income, profit taxes totaled 2.145 billion AZN (15.9 percent), income tax - 790.7 million AZN ( 5 percent), excise tax - 688 million AZN (4.4 percent), property tax - 116.7 million AZN (0.7 percent), land tax - 30.8 million AZN (0.2 percent), tax on mineral resources - 103.7 million AZN (0.7 percent), taxes on foreign economic activity - 603.2 million AZN (3.8 percent).

Some 1.628 billion AZN (with a weight of 11.7 percent) from the budget were spent for social security and protection of the population in January-October, 1.062 billion AZN (7.7 percent) - for education, 501.8 million AZN (3.6 percent) - health care, 829.7 million AZN (6 percent) - maintenance of the prosecution, security, law enforcement, judicial bodies, 5.824 billion AZN (42 percent) - investments in the economy.

Around 19.2 percent (2.664 billion AZN) of public expenditure were spent on payment of salaries, pensions and benefits.

Revenues of the state budget for 2014 were estimated at 18.384 billion AZN, expenses - 20.063 billion AZN.

Execution of public budget in January-October 2014

Items

Jan.-Oct. 2014

Specific weight, %

Compared to Jan.-Oct. 2013, %

Execution,

mln manat

total

In GDP

Income in total

15786,7

100,0

32,1

97,2

Including:

Income taxes from population

790,7

5,0

1,6

117,0

Profit taxes

2145,3

13,6

4,4

94,5

Land taxes

30,8

0,2

0,1

109,6

Property taxes

116,7

0,7

0,2

121,2

VAT

2512,4

15,9

5,1

114,5

Excises

688,0

4,4

1,4

139,1

Tax for natural wealth

103,7

0,7

0,2

102,9

Tax on external economic activities

603,2

3,8

1,2

108,9

Including:

Import duties

333,6

2,1

0,7

137,1

Other taxes

166,7

1,0

0,4

121,2

Other income

8629,2

54,7

17,5

89,1

Expenses in total:

13860,8

100,0

28,2

98,9

Including:

State expenses

1107,4

8,0

2,3

97,9

Including:

Membership fees to the international organizations

119,8

0,9

0,2

149,0

Maintenance of legal authorities, law-enforcement bodies, security and prosecution bodies

829,7

6,0

1,7

109,4

Education

1062,1

7,7

2,2

108,0

Health

501,8

3,6

1,0

107,5

Social security and social provision

1628,1

11,7

3,3

107,9

Culture, art, physical culture, and religious activities

242,3

1,8

0,5

114,8

Expenses on economy

5824,9

42,0

11,8

93,6

Including:

Housing and communal economy

291,9

2,1

0,6

121,4

Agriculture, forestry and fishery

405,0

2,9

0,8

104,0

Industry and construction

4797,6

34,6

9,7

91,0

Transport and communications

66,4

0,5

0,1

97,8

Other expenses

2664,5

19,2

5,4

97,4

Surplus

1925,9

-

3,9

-

Source: State Statistics Committee and Ministry of Finance

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