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Surplus of Azerbaijani state budget makes up 6.5 percent of GDP

Business Materials 8 July 2011 16:52

Azerbaijan, Baku, July 8 / Trend L.Abdullayeva /

The state budget income comprised 4.825.2 billion manat in January-May 2011. This index increased by 17.8 percent, compared to the same period in 2010, the government said.

The state budget expenditures increased by 3.5 percent and made up 3.683 billion manat (20.9 percent of the GDP). The surplus of the budget totaled 1.142.2 billion manat, or 6.5 percent of GDP.

The Taxes Ministry remitted 46.7 percent of all income, or 2.252.9 billion manat to the state budget. The State Customs Committee remitted 441.8 million manat (with a special weight of 9.2 percent) in taxes and duties to the public budget and other sources remitted 2.130.5 billion manat (with a special weight of 44.1 percent).

During the report period, a total of 844.5 million manat was obtained from VAT, or 17.5 percent of all income, 1.051.8 billion manat (21.8 percent) - profit taxes, 258.3 million manat (5.3 percent) - income taxes, 131.4 million manat (2.7 percent) - excise taxes, 46.1 million manat (1 percent) - property taxes, and 51.6 million manat (1.1 percent) -royalties, 16.1 million manat - land taxes (0.3 percent), and 156.1 million manat (3.2 percent) -taxes from foreign economic activities.

The public budget expense for social security and provision of people comprised 594.5 million manat (with a weight of 16.1 percent), 454.5 million manat (12.3 percent) was spent on education, 151.8 million (4.1 percent) - health, 243.3 million (6.6 percent) - maintenance of prosecutor bodies, security and law-enforcement and court bodies, 60.6 million manat (1.7 percent) - culture, art, information sphere and physical education, 1.297.1 billion (35.2 percent)- investment allocations, 73.9 million (2 percent) - housing and communal services, 141.8 million (3.3 percent) - agriculture, fishing, 18.9 million (0.5 percent) - transport and communications.

Further expenditures on industry, construction and minerals hit 996.7 million manat (27.1 percent) and payment of salaries, pensions and benefits- 1.516 billion manat (41.2 percent).

The official exchange rate is 0.7869 manat to $1 on July 8.

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