Budget Surpluses in Azerbaijan Made Up 5.6% of GDP over Jan to July
Azerbaijan, Baku / corr. Trend I.Khalilova / Over January to July 2007, the revenue of the State budget of Azerbaijan amounted to AZN 3.615.3mln (28.4% of GDP), an increase of 74% compared with last year's figures.
The expenditure of the State budget increased by 58.8% and made up AZN 2.896mln (22.7% of GDP). The surplus of the State budget in the first half year totaled AZN 719.6 mln (5.6% of GDP).
Some 77.3% (AZN 2.796.2mln) of the revenue of the State budget has been covered at the expense of the Taxes Ministry. The forecast on tax collections made up 108.8%. Revenue from the customs duties amounted to AZN 435 mln (with special weight comprising 12%) fulfilling the forecast by 101%.
In this period, AZN 640.3mln has been received from VAT (17.7% of gross revenues), AZN 1,684.5 mln (46.6%) - profit tax, AZN 312.9 mln (8.7%) income tax, AZN 171.3 mln (4.7%) - excise tax, AZN 201.3 mln (5.7%) - taxes for external-economical activities.
Over the first 7 months of 2007, AZN 360.4 mln (12.4%) has been spent on social provisions and public protection, AZN 431.5 mln (14.9%) on education, AZN 313 mln (3.9%) on health, AZN 181.3 mln (6.3%) on expenditure of prosecutor's offices, security, law enforcement and courts, AZN 1.032.5 mln (35.7%) on investment to the economy of the country, AZN 37 mln (1.3%) on housing and communal services, AZN 82.7 mln (2.9%) on agriculture, forest economy and fishing. 32.6 % (AZN 943.4 mln) has been spent on payment of salaries, pensions and allowances.