Azerbaijan’s Public Budget in I Quarter Implemented with Surplus
Azerbaijan, Baku, 13 May /corr. Trend I.Khalilova / According to operative data, the revenue part of Azerbaijan's Public budget was implemented at 111% in the first quarter of 2008, an increase of 82.6% (AZN 897.5mln), the Ministry of Finance stated.
AZN 1984.4mln was transferred to the Public budget against AZN 1788.5mln. Some 64.3% (AZN 1276.8mln) of the revenue of the Public budget has been covered at the expense of Taxes Ministry. The forecast on tax collections was implemented at 108%. The tax transfers to the Public budget increased by 64% (AZN 498.3mln).
The revenue from customs duties totaled AZN 275.5mln (with special weight comprising 13.9%), fulfilling the forecast by 100.2%, an increase of 65.9% from the same period of the last year. The transfers from the State Oil Fund of Azerbaijan (SOFAZ) increased by 2.5 times totaling AZN 390mln (19.7%).
The expenditure part of the Public budget was implemented at 75.7% and totaled AZN 1372.5mln against forecasts of AZN 1812.6mln. Despite that the expenditure part was not fully implemented, the budget expenses increased by 64.4% (AZN 537.8mln). Social expenses amounted to AZN 575.1mln (41.9%).
AZN 361.2mln (an increase of 3.1 times) has been spent on industry and construction, AZN 7.8mln (2.1 times) - transport and communications, AZN 70.7mln (46.5%) - social provisions and public protection, AZN 6.8mln - culture and art (45.9%), AZN 4.2mln (41.6$) - housing and communal services, AZN 11.7mln (34.7%) - health, AZN 32.9mln (26.8%) - education, AZN 5mln (22.8%) - agriculture, forest economy and fishing, AZN 15.4mln (19.3%) - defence, AZN 9.4mln (13.2%) - law enforcement and courts. AZN 275.8mln (20.1%) was spent for the payment of salaries, pensions and allowances. The budget surplus in I quarter was AZN 611.9mln.
The correspondent can be contacted at: [email protected]