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Azerbaijan's state budget surplus exceeds 3 percent of GDP

Business Materials 2 December 2013 19:59

Baku, Azerbaijan, Dec. 2

By Emin Aliyev - Trend:

In January-October 2013, actual revenues to the state budget of Azerbaijan totaled 16.238.4 billion manat (34.1 percent of GDP), or 14.1 percent more compared to the same period of last year, the government told Trend today.

State budget expenditures increased by 14.8 percent and amounted to 14.020.7 billion manat (31.1 percent of GDP). The budget surplus for January-October amounted to 2.214.1 billion manat or 4.7 percent of GDP. It slightly increased (2.016.1 billion manat) compared to the same period of 2012.

In the structure of revenues, 35.5 percent (5.768.2 billion manat) were ensured by the Ministry of Taxes. Revenues from customs duties and taxes totaled 1.134.4 billion manat (with a weight of 7 percent), from other sources - 9.332.2 billion manat (57.5 percent). Tax collections increased by 9.7 percent, customs charges - by 14.8 percent, and revenue from other sources - by 17 percent compared to January-October 2012.

During the reporting period, some 2.194.3 billion manat were received from the collection of VAT, which is 13.5 percent of total income, profit taxes totaled 2.269.7 billion manat (13.5 percent), income tax - 676 million manat ( 4.2 percent), excise tax - 494.6 million (3 percent), property tax - 96.3 million manat (0.6 percent), land tax - 28.1 million manat (0.2 percent), tax on mineral resources - 100.8 million manat (0.6 percent), taxes on foreign economic activity - 554.1 million manat (3.4 percent).

Some 1.509.3 billion manat (with a weight of 10.8 percent) from the budget were spent for social security and protection of the population in January-October, 983.8 million manat (7 percent) - for education, 467 million manat (3.3 percent) - health care, 758.5 million manat (5.4 percent) - maintenance of the prosecution, security, law enforcement, judicial bodies, 6.223.6 billion manat (44.4 percent) - investments in the economy.

Around 19.8 percent (2.772.9 billion manat) of public expenditure were spent on payment of salaries, pensions and benefits.

The official exchange rate is 0.7844 AZN/USD on Dec. 2.

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