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State investments in Azerbaijan’s economy exceed 40% of budget expenditures

Business Materials 8 January 2013 19:19
Actual revenue in the revenue part of Azerbaijan's state budget amounted to 15.687 billion manat (32.6 percent of GDP) in January-November 2012, increasing by 34.8 percent compared to the same period last year.

Azerbaijan, Baku, Jan. 8 / Trend A.Akhundov /

Actual revenue in the revenue part of Azerbaijan's state budget amounted to 15.687 billion manat (32.6 percent of GDP) in January-November 2012, increasing by 34.8 percent compared to the same period last year.

State budget expenditures increased by 22.4 percent and amounted to 13.9 billion manat (28.9 percent of GDP). The budget surplus for January - November amounted to 1.747 billion manat, or 3.6 percent of GDP.

Some 35.9 percent (5.634 billion manat) in the structure of revenues is provided by the Ministry of Taxes. Revenues from customs duties and taxes amounted to 1.092 billion manat (with share of 7 percent), from other sources - 8.9 billion manat (57.1 percent).

During the reporting period 2.127 billion manat was received from the collection of VAT, which represents 13.6 percent of total income; profit tax revenues amounted to 2.155 billion manat (13.7 percent), income tax - 735.8 million manat (4.7 percent), excise tax - 484.9 million manat (3.1 percent), property tax - 99.4 million manat (0.6 percent), land tax - 29.6 million manat (0.2 percent), tax on mineral resources - 114.6 million manat (0.7 percent), and the tax on foreign economic activity - 540.8 million manat (3.5 percent).

Some 1.607 billion manat of the budget (with a share of 11.5 percent) was directed to social security and protection of the population; education - 1.093 billion manat (7.8 percent), health care - 470.5 million manat (3.4 percent), maintenance of the prosecution, security, law enforcement, judicial authorities - 738.5 million manat (5.3 percent), investments in the economy - 5.962 billion manat (42.8 percent).

Some 204 million manat (1.8 percent) of the total investment was directed for housing and utility costs; for agriculture, forestry, environment and fishery - 360.9 million manat (3.3 percent), transport and communications - 48.5million manat (0.4 percent).

21.4 percent (2.983 billion manat) of public expenditure was spent on payment of salaries, pensions and allowances.

The official exchange rate for January 8 is 0,7848 AZN / USD.

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