Azerbaijan increases defense expenditures by quarter
Baku, Azerbaijan, July 22
By Zulfiyya Gurbanova - Trend:
Defense expenditures of Azerbaijan`s state budget amounted to 154.2 million manat in January-June 2014, which is 24.5 percent more than in the same period of last year, the Azerbaijani Finance Ministry said on July 22.
The revenues of the state budget were ensured by 101.6 percent, amounting to 9,338.8 billion manat, expenditures - 94.7 percent (8,723.8 billion manat). The state budget surplus amounted to 615 million manats in the first half of this year, according to the report.
Some 38.3 percent (3,578.6 billion manats) in the structure of revenues were ensured by the Ministry of Taxes. The revenues from customs duties and taxes totaled 732.8 million manats (with a weight of 7.8 percent). The tax collections increased by 7.9 percent, customs charges by 14.5 percent compared to the same period of 2013.
Some 4.883.8 billion manats (52.3 percent of revenues) were transferred from the State Oil Fund of Azerbaijan (SOFAZ) to the budget.
Some 30.3 percent or 2.644.9 billion manat fell to socially expenses, which is 14.5 percent more than in the first half of 2013, according to the report.
Some 23.1 percent of costs (28.7 million manat) accounted for housing and utility costs, 7.6 percent (44.5 million manat) - expenditure on education, and 7.6 percent (19.6 million manat) expenditure on health.
The revenues of the consolidated budget of Azerbaijan amounted to 11,537.4 billion manat in the first half of this year, which is 2.5 percent more than in the same period of last year, expenses - 9.913.1 billion manat, increasing by one percent.
The state budget revenues for 2014 are planned to hit 18,384 billion manat, while expenses - at the level of 20,063 billion manat.
The official exchange rate is 0.7843 AZN/USD on July 22.
edited by CN