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Azerbaijan's state budget surplus down by almost a quarter

Business Materials 2 August 2013 19:21 (UTC +04:00)

Azerbaijan, Baku, 2 August / Trend I.Khalilova /

In the first half of 2013, actual revenues to the state budget of Azerbaijan totaled 9.524 billion manat (35 percent of GDP), or 17.1 percent more compared to the same period last year, the government told Trend on Friday.

State budget expenditures increased by 22.8 percent and amounted to 8.730 billion manat (32.1 percent of GDP). The budget surplus for January-June amounted to 794.3 million manat or 2.9 percent of GDP. In comparison with the same period last year, there was a 22.5 percent decrease.

In the structure of revenues, 34.9 percent (3.326 billion manat) was provided by the Ministry of Taxes. Revenues from customs duties and taxes totaled 639.9 million manat (with a weight of 6.7 percent), from other sources - 5.558 billion manat (58.4 percent).

Tax collections have increased in comparison with the first half of last year by 12 percent, customs charges - by 14.8 percent, and revenue from other sources - by 20.6 percent.

During the reporting period, 1.257 billion manat was received from the collection of VAT, which is 13.2 percent of total income, profit taxes totaled 1.295 billion (13.6 percent), income tax - 395.3 million manat ( 4.2 percent), excise tax - 288.3 million (three percent), property tax - 58.4 million manat (0.6 percent), land tax - 14.9 million manat (0.2 percent), tax on mineral resources - 60.2 million manat (0.6 percent), taxes on foreign economic activity - 316.8 million manat (3.3 percent).

906.5 million manat (with a weight of 10.4 percent) from the budget was spent for social security and protection of the population in January-June, 582.3 million manat (6.7 percent) - for education, 257.4 million (2.9 percent) - health care, 430.4 milion manat (4.9 percent) - maintenance of the prosecution, security, law enforcement agencies, judicial authorities, 3849.8 million manat (44.1 percent) - investments in the economy.

19 percent (1657.3 million manat) of public expenditure was spent on payment of salaries, pensions and benefits.

The official exchange rate on August 2 is 0.7845 AZN / USD.

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