Incomes and expenditures of the State Budget of Azerbaijan increase by 88.5% and 66.2% respectively

As APA reports, Taxes Ministry implemented 69.9% (AZN 1452.7 mn) of the Budget incomes and State Customs Committee 14% (AZN 291.8 mn) of the incomes. These two bodies executed the forecast by 103.7% and 101.9% respectively.

Of the incomes, AZN 421.7 mn (20.3%) came from VAT, AZN 247.3 mn (11.9%) from profit tax, AZN 170mn (8.2%) from income deductions, AZN 76.7 mn (3.7%) from excise tax, and AZN 148.1 mn (7.1%) from foreign business activities.

During this period the State Budget spent AZN 1 823.9mn or 66.2% as much as the same period of last year and the budget surplus constituted AZN 253.8mn (2.9% of GDP).

Of the expenditures, AZN 177mn (9.7%) was spent for social protection and security, AZN 297.8mn (16.3%) for education, AZN 562.3 mn (30.8%) for investment in the economy.

Salaries, pensions and allowances constituted AZN 614.4 mn (33.7%) in the structure of Budget expenditures.