Azerbaijani state budget revenues exceeded 25 percent of GDP during 11 months

Business Materials 6 January 2011 13:56 (UTC +04:00)

Azerbaijan, Baku, Jan.6 / Trend, N.Ismayilova /

During Jan.-Nov. 2010, actual revenues in the state budget amounted to 9192 million manat (25.1 percent of GDP), increasing by 3.1 percent compared to the same period last year, the government said today.

Budget expenditures increased by 6.7 percent or 8421 million manat, which is 23 percent of GDP. The budget surplus in the January-November period amounted to 771 million manat, which hit 2.1 percent of GDP.

In the structure of revenues, 42.5 percent or 3,908.4 million manat were ensured by the Ministry of Taxes. Income from customs duties and taxes totaled 931 million manat, with specific gravity of 10.1 percent, while the taxes from other sources amounted to 4352.6 million manat or 47.2 percent.

During the reporting period, 1843.5 million manat were received from VAT, which make up 20.1 percent of the total income, comprising 14.9 percent or 1373.6 million manat on profit tax, 5.7 percent income tax, 4.7 percent or 429.7 million manat excise tax, 0.7 percent or 68 million manat property tax, 1.3 percent or 118.8 million manat mineral resources rent tax, 2.8 percent or 258.1 million manat tax from foreign economic activities.

Some 1052.1 million manat, with a specific gravity of 12.5 percent, from the budget was spent to social provision and protection of the population in January-November, allocating to different sectors like 11.7 percent or 986.4 mln manat to education, 4.2 percent or 358 million manat health, 6.4 percent or 543.4 million manat for maintenance of prosecutors' offices, security, judicial, law enforcement bodies, 37.7 percent or 3172.4 million manat investments in the economy. Some 2.1 percent or 174.9 million manatof the total investments was spent in housing and communal costs, 3.9 percent or 324.6 million manat on agriculture, forestry and fishery, 29.9 percent  or 2521.9 million manat on industry and construction, and 0.5 percent or 43.5 million manat on transport and communications.

Some 31.1 percent or 2615 million manat of public expenditures was spent on paying wages, pensions and grants.

The official exchange rate is 0.7977 manat to $1 on Jan.6.