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Budget Surpluses in First Half Year in Azerbaijan Made Up 2.8% of GDP

Business Materials 30 July 2007 20:34 (UTC +04:00)

Azerbaijan, Baku / corr. Trend I.Khalilova / In the first half of the year, the income to the revenue part of the State budget of Azerbaijan amounted to AZN 2582.3 mln (24.2% of GDP), an increase of 67.6% compared with last year's figures.

The expenditure of the State budget increased by 58% and made up AZN 2284.8 mln (16.2% of GDP). The surplus of the State budget in the first half year totaled AZN 297.5 mln (2.8% of GDP).

Some 75.6% (AZN 1951.9 mln) of the revenue part of the State budget has been covered at the expense of the Taxes Ministry. Revenues from the customs duties amounted to AZN 366.6 mln.

For the reported period, AZN 536.6 mln have been received from VAT (20.8% of gross revenues), AZN 1038.7 mln (40.2%) - profit tax, AZN 258.7 mln (10%) income tax, AZN 126.4 mln (4.9%) - excise tax, AZN 179 mln (6.9%) - taxes for external-economical activities.

In the first half year of 2007, AZN 325.9 mln (14.3%) have been spend on social provision and protection of population, AZN 300.1 mln (13.1%) - education, AZN 92.4 mln (4%) - health, AZN 150.1 mln (6.6%) - bodies of prosecutor's offices, security, law enforcement bodies and courts, AZN 756.7 mln (33.1%) - investment to the economy of the country, AZN 28.8 mln (1.3%) - housing and communal services, AZN 63.6 mln (2.8%) - agriculture, forest economy and fishing. 33.5 % (AZN 765.8 mln) have been spent on payment of salaries, pensions and allowances.

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