The State Budget of Azerbaijan in January-May this year showed a surplus (revenues exceeded expenses) of $ 654.5 million or 2.8% of GDP, the committee said.
The revenue of the state budget amounted to 8023 million (minus 2.7% by June 1, 2013). The explanation follows: revenues from income tax amounted to 1 billion 111.6 million (minus 10.4%), VAT - 1 billion 286.4 million (23.2%), income tax - 381.8 million (17.4%), Excise - 339 million manat (46.8%), and the rest was other items.
The budget expenditure amounted to 7 billion 368.5 million (minus 0.9%). Social protection and social security was spent 837.3 million (+9.3%), education - 495.4 million (+4.2%), and health care - 222.2 million manat (7.7 %). In addition, spending on general state expenditures totaled 495.1 million (minus 23.7%), and law enforcement and judicial authorities - 381.1 million manat (9.4%). The largest abstract item annually growing and unproductive for society was the cost of economic development - 3 billion 480 million manats (4.3%).
According to the observations of experts, each year during the first 9 months of the performance of the country's budget there is a significant superiority of revenues over expenditures. In the last quarter of the year begins competition for disbursement of funds allocated to the non-adjustable and controlled investment projects.
Azerbaijan's state budget for 2014 was approved with revenues of 18 billion 384 million and expenditures of 20 billion 63 million manats. Budget deficit is projected at 1 billion 679 million manats, or 2.87% of GDP. - 17D-
Economics
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