Azerbaijan's state budget surplus reached 4 percent of GDP

Actual revenue in the revenue part of Azerbaijan's state budget amounted to 8134.3 million manat (31.5 percent of GDP) in January-June 2012, increasing by 45 percent compared to the same period last year, the government told Trend on Thursday.

State budget expenditures increased by 45.6 percent and amounted to 7109.5 million manat (27.5 per cent of GDP). The budget surplus for January - June amounted to 1024.8 million manat, or 4 percent of GDP.

Some 36.5 percent (2.96 billion manat) in the structure of revenues is provided by the Ministry of Taxes. Revenues from customs duties and taxes amounted to 557.2 million manat (with weight of 6.9 percent) from other sources - 4607.2 million manat (56.6 percent).

During the reporting period 1075.8 million manat was received from the collection of VAT, which represents 13.2 percent of total income, income tax revenues amounted to 377.1 million manat (4.6 percent), income tax - 1.112 billion manat (13, 7 percent), excise tax - 261.4 million manat (3.2 percent), property tax - 56.9 million manat (0.7 percent), land tax - 19.6 million manat (0.3 percent), tax on mineral resources - 63,6 million manat (0.8 percent), and the tax on foreign economic activity - 335 million manat (4.1 percent).

Some 956.4 million manat of the budget (with a specific weight of 13.5 per cent) were directed to social security and protection of the population, education - 577 million manat (8.1 percent), health care - 228.6 million manat (3 2 percent), the maintain of the prosecution, security, law enforcement, judicial authorities - 372.7 million manat (5.2 percent), investments in the economy - 2961.3 million manat (41.7 percent).

Some 128.9 million manat (1.8 percent) of the total investment directed for housing and utility costs, agriculture, forestry, environment and fishery - 182.7 million manat (2.6 percent), transport and communications - 28.9 million manat (0.4 percent).

Some 23.9 percent (1697.8 million manat) of public expenditure spent on the payment of salaries, pensions and benefits.

Official exchange rate on Aug.2 is 0.7855 AZN/USD.


/Trend/