Special Weight of Budget Surplus in Azerbaijan Decreased in GDP by late 2007
Azerbaijan, Baku / corr. Trend I.Khalilova / Over January to November 2007, the revenue of the State budget of Azerbaijan amounted to AZN 5.566.1mln (26.7% of GDP), an increase of 53.6% compared to last year's figures.
The expenditure of the State budget increased by 55.3% and made up AZN 4.841.4mln (23.3% of GDP). The surplus of the State budget in the first 11 months of the year totaled AZN 724.7 mln (3.5% of GDP).
Some 76.1% (AZN 4.238.2mln) of the revenue of the State budget has been covered at the expense of the Taxes Ministry. The forecast on tax collections made up 106.4%. Revenue from the customs duties amounted to AZN 711.9 mln (with special weight comprising 12.8%) fulfilling the forecast by 101.4%.
In this period, AZN 1.055.4mln has been received from VAT (19% of gross revenues), AZN 2,383 mln (42.8%) - profit tax, AZN 519.4 mln (9.3%) income tax, AZN 356.3 mln (6.4%) - excise tax, AZN 278.2 mln (5%) - taxes for external-economical activities.
Over the first 11 months of 2007, AZN 546.4 mln (11.3%) has been spent on social provisions and public protection, AZN 607.8 mln (12.5%) on education, AZN 313 mln (3.9%) on health, AZN 313.8 mln (6.5%) on expenditure of prosecutor's offices, security, law enforcement and courts, AZN 1.854.1mln (38.3%) on investment to the economy of the country, AZN 75.6 mln (1.6%) on housing and communal services, AZN 197.1 mln (4.1%) on agriculture, forest economy and fishing. 29.1 % (AZN 1.408.8mln) has been spent on payment of salaries, pensions and allowances.