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
-
The State Oil Company of Azerbaijan (SOCAR) and Subsea7, a global leader in offshore engineering and construction, are exploring further collaboration on new projects in the Azerbaijani sector of the Caspian Sea. During a meeting between SOCAR President Rovshan Najaf and Subsea7 CEO John Evans, the two sides discussed the potential for Subsea7’s technological innovations to play a role in upcoming ventures. They also considered other areas of mutual interest for both companies.
-
According to the State Customs Committee and the State Statistics Committee, Azerbaijan saw a significant increase in meat imports during the first nine months of 2024, amid more modest growth in domestic production.
-
The event "Sustainable Transport of the Future" is being held in Baku on Wednesday, organized with the support of Azerbaijan Railways CJSC, aimed at promoting the concepts of sustainable transport that minimizes environmental impact. The event highlights environmentally friendly transportation options, such as walking, cycling, green public transport systems, and eco-friendly vehicles, all contributing to the reduction of greenhouse gas emissions.
-
On October 23, 2024, the 3rd Conference of Energy Ministers within the framework of the "One Belt, One Road" (OBOR) initiative opened in Qingdao, China. Energy ministers from around the world gathered to discuss critical issues related to global energy security, the transition to clean energy, and innovations in the sector.
Leave a review