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Surplus of Azerbaijani public budget makes up 2.5 percent of GDP

Business Materials 8 October 2010 13:14 (UTC +04:00)
In January–August 2010, the public budget income comprised 6708.9 million manats, or 25.6 percent of GDP. This index increased by 2.6 percent, compared to the same period in 2009, the government said.

Azerbaijan, Baku, Oct.7/ Trend A.Akhundov/

In January-August 2010, the public budget income comprised 6708.9 million manats, or 25.6 percent of GDP. This index increased by 2.6 percent, compared to the same period in 2009, the government said.

Public budget expenditures increased by 3.1 percent and made up 6044.5 million manat (23.1 percent of the GDP). The surpluses of the budget totaled 664.4 million manat, or 2.5 percent of GDP.

The Taxes Ministry remitted 41.4 percent of all income, or 2776.1  million manat to the Public budget. The State Customs Committee remitted 631 million manat (with a special weight of 9.4 percent) in taxes and duties to the public budget and other sources remitted 3380.1 million manat (with a special weight of 50.4 percent).

During the report period, a total of 1277.9 million manats was obtained from VAT, or 19 percent of all income, 997.3 million manat (14.9 percent) - profit taxes, 375.1 million manats (5.6 percent) - income taxes, 281 million manat (4.2 percent) - excise taxes, 48.3 million manats (0.7 percent) - property taxes, and 85.5 million manats (1.3 percent) -royalties and 181.3 million manat (2.7 percent) -taxes from foreign economic activities.

The public budget expense for social security and provision of people comprised 807.7 million manats (with a weight of 13.4 percent), 715.8 million manat (6.2 percent) was spent on education, 241.5 million (4 percent) - health, 376.6 million (6.3 percent) - maintenance of prosecutor bodies, security and law-enforcement and court bodies, 2346.6 million (38.8 percent)- investment allocations, 123.5 million (2.1 percent) - housing and communal services, 216.2 million (3.6 percent) - agriculture, fishing, 26.4 million (0.4 percent) - transport and communications, and 32 percent (1933.6 million manats) of Public expenses were spent on the payment of salaries, pension and allowances.

The official exchange rate is 0.8021 manat to $1 Oct.7.

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