Azerbaijan's state budget expenses account for quarter of GDP

Business Materials 6 January 2012 13:00 (UTC +04:00)

Azerbaijan, Baku, Jan 6 /Trend A.Akhundov/

Actual receipts in the state budget revenues amounted to 11638.9 million manat (25.6 per cent of GDP) in January-November 2011, increasing by 26.6 per cent, compared to the same period in 2010, a government spokesperson told Trend.

State budget expenditures that increased by 35.2 per cent accounted for 11387.2 million manat (25 per cent of the GDP). A budget surplus stood at 251.7 million manat in January-November, which accounted for 0.6 per cent of the GDP.

Some 44.1 per cent of revenues (5134.7 million manat) were provided by the Ministry of Taxes. Revenues from customs duties and taxes amounted to 1033.4 million manat (with a weight of 8.9 per cent) and from other sources, 5470.8 million manat (47 per cent).

During the reporting period, 1976.8 million manat came from VAT, that is 17 per cent of total income, 2196.9 million manats (18.9 per cent) was provided by income tax, 626.7 million manat (5.4 per cent) profits tax, 454.3 million manat (3.9 per cent) excise tax, 98.2 million manat (0.8 per cent) property tax, 33.1 million manat (0.3 per cent) land tax, 117.3 million manat (one per cent) and 344.9 million manat (three per cent) income tax from foreign trade.

Some 1370.9 million manat of the budget and of specific importance 12 per cent, was spent on social security and protection of the population in January-November, 1.061 billion manat (9.3 per cent) on education, 405.8 million manat (3.6 per cent), 570.6 million manat (five per cent) on health care, the areas of security, law enforcement, judicial authorities and investments in the economy were 5006.2 million manat (44 per cent).

Some 206.2 million manat (1.8 per cent) was directed at the total investment in housing and utility, agriculture, 370.8 million manat (3.3 per cent) on forestry and fishery, 4266.9 million manat (37.5 per cent) on industry, construction and mineral exploration and 51.3 million manat (0.5 per cent) on transport and communications.

Official exchange rate on Jan 6 is 0.7865 AZN/USD