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Azerbaijanâ€™s Q1 budget surplus makes AZN 645 mln

24 April 2012 08:51 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. Azerbaijanâ€™s state budget received AZN 3,487.7 mln and expenditure was AZN 2,843.2 mln and the surplus made AZN 644.5 million in January-March, 2012.

Ministry of Finance said that, receipt forecast of state budget during the reporting period was fulfilled by 98.5%, up 26% from year earlier.

Ministry of Taxes fulfilled the income forecast by 112.6% to transferred AZN 1,390.4 mln to state budget, up 19.8% from 2011.

State Customs Committee fulfilled the forecast by 100.3% and transferred ANZ 251.7 mln.

AZN 5.8 mln or upper 28.9% than forecast was transferred to state budget from other incomes. State Oil Fund transferred AZN 1,839.8 mln to state budget.

About budget expenditures, state budget expenditures for 2012â€™s first quarter was fulfilled by 79%, up AZN 755.8 mln or 36.2% from year earlier: â€œFinancing of social expenditures required 41.4% or AZN 1,178.3 mln, up AZN 178.3 mln or 17.8%â€.

Ministry also said AZN 437.6 mln or 80.1% from state budget expenditures went to industry, construction and minerals, AZN 152.2 mln or 37.3% - to social protection and social security, AZN 38.2 mln or 29% - to judicial power, law-enforcement and prosecutorâ€™s office, AZN 37.9 mln or 22.9% - to common state services, AZN 16.1 mln or 58.3% to economic activity, AZN 10.4 mln or 32.5% to culture, art, information, physical training and activities in spheres not belonging to other categories, AZN 9 mln or 12.3% - to health, AZN 5.5 mln or 19.4% - to housing and public utilities and AZN 2.1 mln or 19.6% to transport and communication.

AZN 138.6 mln from AZN 984 mln-expenditures of government investment went to construction and reconstruction of objects, AZN 845.4 mln â€“ to construction and reconstruction of energy, water supply, gas, transport, melioration infrastructures, and purchase of modern equipments.