Public Budget Surplus comprises 0.5% of GDP in Azerbaijan in 2006

Business Materials 12 February 2007 11:35 (UTC +04:00)

The State Statistics Committee informed Trend that as of January 1st 2007 the public budget income comprised 3881.2mln manats, or 21.9% of GDP. It rose 88.8%, or by 1826mln manats from last year. Public budget expenses rose 77% (1649mln manats) and made up 3789.7mln manats (21.4% of the GDP).

The surplus of the public budget comprised 91.5mln manats, or 0.5% of the GDP.

In 2006 the Ministry of Taxes remitted 70% of all income, or 2716.6mln manats to the public budget against the forecast of 103.3%. As of preliminary data, the State Customs Committee remitted 516mln manats (with a special weight of 13.3%) in taxes and duties to the public budget, fulfilling the forecast by 102.1%.

In this period a total of 737.8mln manats was obtained from VAT, or 19% of all income, 994.5mln manats (25.6%) вЂ" profit taxes, 378.5mln manats (9.8%) вЂ" income taxes, 187.4mln manats (4.8%) вЂ" excise taxes and 241.2mln manats (6.2%) вЂ" taxes from foreign economic activities

In 2006 the public budget expense for social security and provision of people comprised 341.5mln manats (9%). 479mln manats (12.6%) was spent on education, 278.5mln manats (7.3%) вЂ" maintenance of prosecutor bodies, security and law-enforcement and court bodies, 1246.9mln manats (32.9%) - on expenses linked with investment activities, 61.6mln manats (1.6%) вЂ" housing and communal services, 882.9mln manats (23.3%) вЂ" industry and construction and 132.4mln manats (3.5%) вЂ" agriculture, forestry and fishing. 30% (1124m manats) of budget expenses went towards payment of wages, pensions and benefits.