Public Budget Surplus comprises 12.4% of GDP in Azerbaijan

Business Materials 7 April 2008 19:08 (UTC +04:00)

Azerbaijan, Baku, 7 April /cor. Trend I.Khalilova / From Jan to Feb 2008, the Public budget income comprised 1425.1mln manats, or 29.9% of GDP. It rose by 83.4%, from the last year, a Government source stated on 7 April. Public budget expenses rose by 79.9% and made up 832.6mln manats (17.5% of the GDP). The surpluses of the budget from Jan to Feb totaled AZN 592.5 (12.4% of GDP).

The Ministry of Taxes remitted 68.4% of all the income, or 974.1mln manats to the public budget, implementing the forecast at 111.5%. As of preliminary data, the State Customs Committee remitted 177.3mln manats (with a special weight of 12.4%) in taxes and duties to the public budget, fulfilling the forecast by 100.7%.

During this period, a total of 263.6mln manats was obtained from VAT, or 18.5% of all the income, 601.8mln manats (42.2%) - profit taxes, 80.3mln manats (5.6%) - income taxes, 66.6mln manats (4.7%) - excise taxes, 64.4mln manats (4.5%) - taxes from foreign economic activities

The public budget expense for social security and provision of people comprised 169mln manats (20.3%). 74.7mln manats (9%) were spent on education, 18.9mln (2.3%) - health, 45.8mln manats (5.5%) - maintenance of prosecutor bodies, security and law-enforcement and court bodies, 357.6mln manats (42.9%) - on expenses linked with investment activities, 6mln manats (0.7%) - housing and communal services, 13.3mln manats (1.6%) - agriculture, forestry and fishing, 9.3mln manats (1.1%). 37.1% (308.9mln manats) of budget expenses were accounted for the wages, pensions and benefits.

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