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Azerbaijan’s Budget Fulfilled with Surplus in Q3

Business Materials 3 November 2008 16:22 (UTC +04:00)

Azerbaijan, Baku, 3 November/ Trend , corr N. Ismayilova/ The income of the budget was fulfilled at 101.2% improving by 71.3% (AZN 3.123mln) in the third quarter of 2008, according to the Ministry of Finance. About AZN 7,506,600,000 has been transferred to the budget compared with forecast of AZN 7,421,100,000.

The constituent part of budget transfers (579% or AZN 4,346,500,000) was paid by the Ministry of Taxes who fulfilled the forecast by 107.4%. Tax assignments to the budget went by up 34.1 (AZN 1,104,900,000).

The State Customs Committee fulfilled the forecast by 100.4% and transferred AZN 8, 455,000 (11.2%) to the budget which is 47.1% more than the transfers carried out the same period of 2007.

The transfers from the State Oil Fund (SOFAZ) increased by 3.5 times to AZN 2,190, 000,000 (29.2%).

Governmental agencies transferred AZN 88.4mln (1.2%) and other sources - AZN 36.2mln (0.5%).

State Property Management Committee transferred AZN 3.9mln which is 77.3% more than the third quarter of 2007.

Expenditures of the budget wee fulfilled at 85.3% and totaled to AZN 6,719,200 compared with forecast of AZN 7,876,600. Though expenditure items of the state budget were not fulfilled, budget expenditures went up by 68.6% (AZN 2,733,300).

The expenditures in industry, construction and minerals totaled to AZN 2,967,100,000, (rise of 2.3 times), transport and communication - AZN 57mln (10.9%), social security - AZN 617.5mln (34.4%), art, information and physical training - AZN 90.6mln (44.5%), housing and public utilities - AZN 100.9mln (87.9%), heath - AZN 205mln (37.7%), education - AZN 600.9mln (21.9%), agriculture, fishing and environment protection - AZN 199.3mln (30.3%), defense - AZN 675mln (24%), law enforcement agencies - AZN 327.7mln (35.3%).

The budget was fulfilled with a surplus of AZN 787.4mlnm in the third quarter.

Official rate for 3 November is 0.8087 AZN/USD.

The correspondent can be contacted at: [email protected]

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