Azerbaijan state budget’s profit increases 13% in Q1

Azerbaijan state budget’s profit increases 13% in Q1
# 13 April 2011 09:47 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. The prognosis on Azerbaijan’s state budget was fulfilled by 118%, in January-March, 2011, up 13.2% in comparison to a year ago, said the Minister of Finance Samir Sharifov at the meeting on outcomes of socio-economic development in the 1st quarter of 2011.

According to him, Ministry of Taxes has transferred AZN 1.161 mln to state budget during teh same period, up AZN 151 mln or 15% compared to a year earlier: “AZN 681 mln or 58.7% of this came from non-oil sector, up AZN 132 mln or 24% from year ago”.

Sharifov noted that, the income on non-state sector made 20.9% on a year go, share of it in tax income rose 71.1%.

“State Customs Committee transferred AZN 241 mln by the fulfilment of forecast by 100.2%, up 17.1% from year earlier. At the same time State Oil Fund transferred AZN 1.330 bln”, minister said.

Besides, AZN 36 mln on other incomes was transferred to the state budget, during the accounting period, up AZN 32 mln from previous year.

At the same time, budget expenditure was fulfilled by 87.3% or AZN 2.087 mln than forecast, up 5.5% from year earlier.

According to him, 47.9% or AZN 1 bln of income was spent to financing of social expenditures, up AZN 129 mln or 14.9% compared to a year ago: “Over AZN 57 mln or 17.2% went to the payments of social pension and social benefits, AZN 70 mln or 14.2% to fund on payment of labour, AZN 1.6 mln or 3.8% to food and medicine expenses”.

He noted that, AZN 408 mln was granted to social protection and social security, up 19.2% from year earlier.

The expenditures for defence spending increased by 21.9%, for health expenditure by 21.8%, for agriculture, forestry and fishing expenditure by 18.3%, for education expenses by 12.4%, for culture, art, information and physical training by 11.9%.

At the same time, AZN 154 mln went to repayment of foreign and domestic debts.

AZN 15 mln went to Azerbaijan’s diplomatic representations in abroad and AZN 3.5 mln went to the financing of several international events.

Besides, AZN 25 mln was granted to the State Program on reliable supply of population with food products in 2008-2015.
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