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Azerbaijani public budget surpluses hit 3 percent of GDP in Q1

Business Materials 6 May 2009 16:58 (UTC +04:00)

Azerbaijan, Baku, May 6 / Trend , I.Khalilova/

In the first quarter of 2009 the Public budget income comprised 2.522 million manats, or 37.4 percent of GDP. It rose 27.1 percent, from the last year, a government source said. Public budget expenses rose 71.1 percent and made up 2.347 million manats (34.8 percent of the GDP). The surpluses of the budget totaled 174.6 million (2.6 percent of GDP).

In this period a total of 527 million manats was obtained from VAT, or 20.9 percent of all income, 305.6 million manats (12.1 percent)- profit taxes, 138.8 million manats (5.5 percent) - income taxes, 56.6 million manats (2.2 percent) - excise taxes, 21.9 million manats (0.9 percent)- property taxes, and 53.8 million manats (2.1 percent) -taxes from foreign economic activities.

The public budget expense for social security and provision of people comprised 291.9 million manats (12.4 percent). 222 million manats (9.5 percent) was spent on education, 62.6 million (2.7 percent) - health, 124.8 million (5.3 percent) - maintenance of prosecutor bodies, security and law-enforcement and court bodies, 1.193 million (50.8 percent)- investment allocations, 31.6 million (01.3) - housing and communal services, 53.7 million (2.3 percent) - agriculture, fishing, 13.5 million (0.6 percent) - transport and communications, 1.058 million (45.1 percent) - industry and construction and 29.1 percent (682.6 million manats) of Public expenses were spent on the payment of salaries, pension and allowances.

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