Azerbaijan's 2009 budget fulfils with deficit of 241 million manat

Business Materials 3 March 2010 17:26 (UTC +04:00)

Azerbaijan, Baku, March 3 / Trend N.Ismayilova /  

In 2009, the Public budget income comprised 10,326 million manats compared to projected 12,177. This index decreased by 4.1 percent, compared to the same period in 2008, and the budget revenues was fulfilled by 84.8 percent, the Azerbaijani Finance ministry reported.

Public budget expenditures decreased by 1.9 percent and made up 10,567 million manat (compared to projected 12.355 million manat and the performance of 85.5 percent). The surpluses of the budget totaled 241.1 million manat.

The Taxes Ministry remitted 39.8 percent of all income, or 4114 million manat to the Public budget. The State Customs Committee remitted 1113 million manat (with a special weight of 10.8 percent) in taxes and duties to the public budget, with an increase of 0.2 percent compared to 2008. The State Oil Fund (SOFAZ) remitted 47.6 percent of all income, or 4915 million manat to the Public budget, with an increase of 29.3 percent compared to 2008.

In 2009, 30.9 percent of tax revenues to the state budget (1273 million manat) was obtained at the expense of income tax transfers from SOCAR (State Oil Company), and 12.5 percent or 513.2 million manat - Azerbaijan International Operating Company (AIOC).

Compared to 2008 SOCAR revenues decreased by 1.2 percent or 15.8 million manat and the AIOC - to 76.1 percent, or 1.6362 billion manat.

In this period a total of 2327.7 million manats or 56.6 percent of the tax incomes was obtained from the oil revenues, which is less by 24.2 percent than projected and higher by 3.1 percent (70 million manat) than the index in 2008.

In 2009, the public budget expense for social security and provision of people comprised 1054.4 million manats, 1147.9 million manat was spent on education, 402,4 million - health, 648.9 million - maintenance of prosecutor bodies, security and law-enforcement and court bodies, 1183.9 million - defense, 194.5  million - housing and communal services, 390.4  million - agriculture, fishing, 75.3 million - transport and communications, and 146.3 million manats of Public expenses were spent on the economic activity.

In 2009, 2.763 billion manat (26.2 percent of total expenditure) of Public expenses were spent on the implementation of socially significant events, which is 19.5 percent or 450.4 million manat higher than in 2008.

March 3, the official exchange rate is 0.8034 manat to $2.

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