Azerbaijan's state budget surplus decreases 13 percent
Baku, Azerbaijan, Dec.5
By Maksim Tsurkov - Trend:
In January-October 2014, actual revenues to the state budget of Azerbaijan totaled 15.786 billion AZN (32.1 percent of GDP), or 2.8 percent less compared to the same period of last year, the Azerbaijani government told Trend Dec.5.
The official exchange rate is 0.7845 AZN/USD Dec.5.
State budget expenditures decreased by 1.1 percent and amounted to 13.86 billion AZN (28.2 percent of GDP). The budget surplus for January-October amounted to 1925.9 million AZN or 3.9 percent of GDP.
In the structure of revenues, 38.9 percent (6.145 billion AZN) were ensured through the Ministry of Taxes. Revenues from customs duties and taxes totaled 1256.8 million AZN (with a weight of 8 percent), through other sources - 8.385 billion AZN (53.1 percent). Tax collections increased by 6.5 percent, customs charges - by 10.8 percent, and revenue from other sources decreased by 10.2 percent compared to January-October 2013.
During the reporting period, some 2.512 billion AZN were transferred to the state budget from the value added tax, which is 15.9 percent of total income, profit taxes totaled 2.145 billion AZN (15.9 percent), income tax - 790.7 million AZN ( 5 percent), excise tax - 688 million AZN (4.4 percent), property tax - 116.7 million AZN (0.7 percent), land tax - 30.8 million AZN (0.2 percent), tax on mineral resources - 103.7 million AZN (0.7 percent), taxes on foreign economic activity - 603.2 million AZN (3.8 percent).
Some 1.628 billion AZN (with a weight of 11.7 percent) from the budget were spent for social security and protection of the population in January-October, 1.062 billion AZN (7.7 percent) - for education, 501.8 million AZN (3.6 percent) - health care, 829.7 million AZN (6 percent) - maintenance of the prosecution, security, law enforcement, judicial bodies, 5.824.9 million AZN (42 percent) - investments in the economy.
Around 19.2 percent (2.664.5 billion AZN) of public expenditure were spent on payment of salaries, pensions and benefits.
Revenues of the state budget for 2014 were estimated at 18.384 billion AZN, expenses - 20.063 billion AZN.
Maksim Tsurkov is Trend Agency's staff journalist, follow him on Twitter: @MaksimTsurkov