Azerbaijan's state budget expenditures decreases slightly for a year

Business Materials 11 July 2014 16:55 (UTC +04:00)

Baku, Azerbaijan, July 8
By Zulfiyya Gurbanova - Trend:

In January-May 2014, actual revenues to the state budget of Azerbaijan totaled 8.02 billion AZN (34.2 percent of GDP) decreasing by 2.7 percent compared to the same period last year, the government representative told Trend.

The expenditures of the state budget decreased by 0.9 percent and amounted to 7.37 billion AZN (31.4 percent of GDP). The budget surplus in January-May amounted to 654.5 billion AZN or 2.8 percent of GDP. The budget surplus decreased compared to the same period last year (815 million AZN).

In the structure of revenues 38.9 percent (3.1 billion AZN) is generated by the Ministry of Taxes. Revenues from customs duties and taxes totaled 597.5 million AZN (with the specific weight of 7.4 percent), and from other sources - 4.3 billion AZN (53.7 percent).

The tax revenues increased by 7.2 percent for the reported period compared with January-May last year, the customs charges increased by 14.3 percent, and revenue from other sources decreased by 10.6 percent.

The value added tax (VAT) to the state budget received 1.3 billion AZN or 13.9 percent of total revenues for the reported period. The revenues from tax payable amounted to 1.1 billion AZN (13.9 percent), income tax - 381.8 million AZN (4.8 percent), excise tax- 339 million AZN (4.2 percent), property tax - 59.7 million AZN (0.7 percent), land tax - 16 million AZN (0.2 percent), tax on mineral resources - 55.5 million AZN (0.7 percent), tax on foreign trade activities -265.6 million AZN (3.3 percent).

Some 837.3 million AZN (with specific weight of 11.4 per cent) was spent on social security and protection of the population from the budget in January-May, 495.4 million AZN (6.7 percent)- education, 222.2 million AZN (3 percent)- health care, 381.1 million AZN (5.2 percent) for maintenance of the prosecution, security, law enforcement, and judicial authorities. The investments in the economy amounted to 3.5 billion AZN (47.2 percent).

Some 20.9 percent (1.5 billion AZN) of public spending were made on the payment of salaries, pensions, and allowances.

State budget revenues for 2014 are provided at 18.384 billion AZN, and expenses - at the level of 20.063 billion AZN.

The official exchange rate on July 8 is 0.7844 AZN / USD.

Edited by CN