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Public budget of Azerbaijan (january-july 2015)

Analysis Materials 9 September 2015 16:10 (UTC +04:00)

The deficit of the Azerbaijani state budget amounted to 595.7 million manat (1.9 percent of GDP) in January-July 2015. The state budget was executed with a surplus of 774 million manat in the same period of 2014.

The state budget has been executed with a deficit for the fifth month. The state budget was executed with a surplus of 421.6 million manat in January or 11.6 percent of GDP.

It increased by 16.9 times compared to the same period of last year. The surplus amounted to 80.1 million manat in January-February or by 61.8 percent more than last year. The deficit of the Azerbaijani state budget amounted to 251 million manat in January-March 2015 compared to the surplus worth 108.4 manat in 2014.

The actual income in the revenue part of Azerbaijan's state budget amounted to 5.36 billion manat in January-April 2015, which is 17.2 percent less than in 2014.

The deficit of the Azerbaijani state budget amounted to 822.5 million manat in January-April 2015 compared to the surplus worth 402.6 million manat.

The deficit worth 905.8 million manat was observed in January-May compared to a surplus worth 654.5 million manat, while the deficit worth 770.9 million manat in January-June.

The actual income in the revenue part of Azerbaijan's state budget amounted to 9.38 billion manat in January-July 2015, which is 15.4 percent less than in 2014. The state budget expenditures decreased by 3.3 percent and amounted to 9.97 billion manat. Some 43.8 percent (4.1 billion manat) in the structure of revenues were ensured through the Ministry of Taxes.

The Azerbaijani State Customs Committee transferred 906.9 million manat (9.7 percent) to the state budget.

The tax revenues reduced by 6.6 percent, while customs deductions increased by 4.5 percent per annum.

Some 44.1 percent (4.4 billion manat) accounted for the economic expenditure or by 5.3 percent or 243.6 million manat less than in the same period of 2014.

Some 3.81 billion manat of this amount (a 4.3 percent decrease) was allocated to the sphere of industry, construction and minerals, 226.9 million manat (a 5.3 percent decrease) - agriculture, forestry and environmental protection.

Some 11 percent (1.09 billion manat with 2.2 percent decrease), health care costs - 3.5 percent (352 million manat with a 1.8 percent growth) accounted for the social security and protection costs in January-July 2015.

The state budget revenues for 2015 were approved in the amount of 19.438 billion manat, expenses - 21.1 billion manat. The budgetary projections have been formed upon an oil price of $90 per barrel.

Execution of public budget in January-July 2015

Items

Jan.-July 2015

Specific weight, %

Compared to Jan.-July 2014, %

Execution,

mln manat

total

In GDP

Income in total

9377,2

100,0

29,3

84,6

Including:

Income taxes from population

628,3

6,7

2,0

114,4

Profit taxes

1358,2

14,5

4,2

86,1

Land taxes

27,2

0,3

0,1

129,5

Property taxes

85,1

0,9

0,3

103,0

VAT

1774,1

18,9

5,5

99,9

Excises

372,5

4,0

1,2

79,8

Tax for natural wealth

67,8

0,7

0,2

90,5

Tax on external economic activities

364,2

3,9

1,1

84,3

Including:

Import duties

246,2

2,6

0,8

105,2

Other taxes

156,7

1,7

0,5

138,3

Other income

4543,1

48,4

14,2

75,8

Expenses in total:

9972,9

100,0

31,1

96,7

State expenses

Including:

929,2

9,3

2,9

122,7

Membership fees to the international organizations

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

103,3

1,0

0,3

128,0

Education

570,1

5,7

1,8

101,3

Health

872,3

8,8

2,7

104,7

Social security and social provision

352,0

3,5

1,1

101,8

Culture, art, physical culture, and religious activities

1094,0

11,0

3,4

97,8

Expenses on economy

140,5

1,4

0,4

84,3

Expenses in total:

4396,2

44,1

13,7

94,7

Including:

Housing and communal economy

139,5

1,4

0,4

68,3

Agriculture, forestry and fishery

226,9

2,3

0,7

94,7

Industry and construction

3807,5

38,2

11,9

95,7

Transport and communications

44,6

0,4

0,1

96,5

Other expenses

1618,6

16,2

5,1

85,7

Surplus

595,7

-

1,9

-

Source: State Statistics Committee and Ministry of Finance

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