The budget surplus stands at 2.6% of GDP in Azerbaijan in Jan-Aug

The incomes and expenditures of the State Budget increased by 94.7% (AZN 1 180.8m) and 71.1% (AZN 895.9m) year-over-year, in January-August, State Statistical Committee told APA.

66.4% (AZN 1 612.7m) of the Budget incomes was provided by Taxes Ministry and 13.9% (AZN 338m) by State Customs Committee. These two bodies executed the forecast by 101.9% respectively.

Of the incomes, AZN 491.9m (20.3%) came from VAT, AZN 347m (13.5%) from profit tax, AZN 198.4m (8.2%) from income deductions, AZN 108.6m (4.5%) from excise tax, and AZN 173.8 mn (7.2%) from foreign business activities.

Of the expenditures, AZN 205.3m (9.5%) was used for social protection and security, AZN 312.8 m (14.5%) for education, AZN 768 m (35.6%) for investment in the economy.

Salaries, pensions and allowances constituted AZN 682.1m (31.6%) in the structure of Budget expenditures.