Azerbaijan's state budget surplus exceeds $ 1.3 billion in Jan.-June

Azerbaijan's state budget surplus exceeds $ 1.3 billion in Jan.-June

Azerbaijan, Baku, July 20 / Trend A. Akhundov /

The income part of Azerbaijani consolidated budget totaled 11.407 billion manat, expenditure - 8.054 billion manat in the first half 2012, the Finance Ministry said on Friday.

The revenues of the state budget during the reporting period amounted to 8.134 billion manat, expenses - 7.11 billion manat, which resulted in a surplus of 1.025 billion manat.

The revenues to the state budget were executed at 106.2 percent in the first half of 2012 of the forecast with revenue growth of 45 percent compared to the same period of last year.

The Azerbaijani Ministry of Taxes exceeded the forecasts for contributions to the state budget by 16 percent, by ensuring the proceeds from the tax collection at 2.968 billion manat. This exceeds the corresponding figure for the same period of last year by 405 million manat or 15.8 percent.

About 55 percent or 1.633 billion manat fell to the non-oil sector. This exceeds the figure for the same period of last year by 222 million manat or 15.8 percent.

The State Customs Committee exceeded the forecasts for contributions to the state budget by 0.4 percent, by ensuring the transfer of 557.2 million manat, or 2.7 percent more than the corresponding figure for the same period of last year.

The State Oil Fund's transfers to the budget amounted to 4.592 billion manat. Other income replenished budget by 17.4 million manat.

Expenditures of the state budget for January-June were executed by 91.4 percent. Budgetary expenditures exceeded the index for the same period of last year by 2.227 billion manat or 45.6 percent.

Investment expenditure of the state budget in the first half of 2012 increased by 1.9 times compared to the same period of last year, the costs connected with economic activity - by 42.8 percent, social protection and social security - 42.1 percent, defense - 41.6 percent, culture, art, information, and physical education - 36.9 percent, the judiciary, law enforcement bodies and prosecutor's office - 28 percent, transport and communication - 19.4 percent, health care - 16.2 percent, agriculture, forest farming, fishing, hunting and environmental protection - 6.3 percent.

Social expenditure amounted to 2.3 billion manat during the reporting period or 32.3 percent of the funds transferred to the state budget. This exceeds the same index for the corresponding period of last year by 370 million manat or 19.2 percent.

About 514 million manat were spent for the construction and reconstruction of scientific, education, health, sports and other socio-cultural facilities in the first half of the year.

About 1.476 billion manat were spent for the construction and reconstruction of infrastructure for water and gas supply. About 405 million manat of this amount were allocated for the construction and reconstruction of road and transport infrastructure, 118 million manat for the implementation of the state program on Baku metro development, 150 million manat were spent for the measures within the state program on socio-economic development of regions in 2009-2013, 154 million manat for the restoration and reconstruction of water supply and sewerage system, 156 million manat were spent to improve water supply.

Besides the investment costs, allocated from the state budget, the funds worth 348 million manat drawn by Azerbaijan in the form of loans from abroad were used for the construction and reconstruction of roads, water and land reclamation, agricultural, social and other infrastructure.

The official exchange rate is 0.7857 AZN/USD on July 20.

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