Income and expenditure of state budget rise 76.2% and 52.2% in January-May respectively

The incomes of the state budget increased by 76.2% or AZN 559mn and the expenditures increased by 52.2% or AZN 383.7mn as against last year’s respective period.

The State statistical Committee told APA that 68.7%of the income (AZN 888.3mn) was given by Ministry of Taxes, 15.9%% (AZN 206 mn) by State Customs Committee, 14.1% (AZN 152 mn) by other sources. Forecast budget was implemented by 110.2% and 101.5% by Ministry of Taxes and Customs Committee respectively.

AZN 288.6 mn or 22.3% of income came from VAT, AZN 180.8mn or 14% from income tax, AZN 56.6 mn or 4.4% from excise tax, AZN 112.9mn or 8.7% from taxes paid by population, AZN 97.6 mn or 7.6% from foreign activities.

AZN 121.7 (10.9%) from the state budget was expended on social security and social protection, AZN164.2mn (14.7%) on education, AZN 317.2 mn (28.4%) on investment in the economy. Salaries, social pensions, and other allowances constituted 35.4% (AZN 396.3mn) of the budget expenditures, APA reports.