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Surplus of Azerbaijani public budget hits 3 percent of GDP

Business Materials 30 October 2009 14:14 (UTC +04:00)

Azerbaijan, Baku, Oct. 30 / Trend , N.Ismayilova/

In January-September 2009, the Public budget income comprised 7.235 billion manat, or 30.9 percent of GDP. It decreased 3.6 percent from the last year, a government source said on Oct. 30.

Public budget expenses dropped 3.9 percent and made up 6.456 billion manat (27.6 percent of the GDP). The surpluses of the budget totaled 778.2 million (3.3 percent of GDP).

Some 35.5 percent (2.567 billion manat) of revenues falls to the Taxes Ministry's, with fulfillment of the forecast at 58.6 percent. Revenues on the customs duties and taxes totaled 875.4 million manat (12.1 percent) with a 103.5 percent fulfillment of the forecast.

In this period a total of 1.469 billion manat was obtained from VAT, or 20.3 percent of all income, 861.2 million manat (11.9 percent) - profit taxes, 429.9 million manats (5.9 percent) - income taxes, 205.5 million manats (2.8 percent) - excise taxes, 55.7 million manats (0.8 percent)- property taxes, 77 million manats (1.1 percent) - land taxes and 185.6 million manats (2.6 percent) -taxes from foreign economic activities.

The public budget expense for social security and provision of people comprised 800.8 million manats (12.4 percent). 783.8 million manat (12.1 percent) was spent on education, 257.1 million (4 percent) - health, 420.8 million (6.5 percent) - maintenance of prosecutor bodies, security and law-enforcement and court bodies, 2.741 billion (42.5 percent)- investment allocations, 125.2 million (1.9 percent) - housing and communal services, 234.2 million (3.6 percent) - agriculture, fishing, 47.9 million (0.7 percent) - transport and communications, and 2.042 billion (31.6 percent) of Public expenses were spent on the payment of salaries, pension and allowances.

On Oct. 30, the official exchange rate is 0.8032 manat to $1.

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