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Azerbaijan’s state budget revenues exceeds forecast by 6.2% in Q1, 2012

12 July 2012 14:40 (UTC +04:00)

Baku. Ali Ahmadov â€“ APA-Economics. In the first half of 2012, revenues of the state budget of Azerbaijan were fulfilled at AZN 8.134 billion, or 106.2% of the forecast, which is higher by 45% than last year.

FinMinister Samir Sharifov says
the Ministry of Taxes of Azerbaijan exceeded forecasts for contributions to the state budget by 16%, provided the proceeds from the collection of taxes at the level of AZN 2.968 billion, up AZN 15.8% compared to last year.

55%, or AZN 1.633 billion accounted for the non-oil sector, up AZN 222 million or 15.8% compared to last year.
The State Customs Committee, exceeding forecasts for contributions to the state budget by 0.4%, provided the transfer of AZN 557 million, up 2.7% compared to last year.

Transfers to the State Oil Fund in the budget amounted to AZN 4.592 billion.
The budget expenditures for January-June, 2012, r totaled AZN 7.11 billion, the performance was forecasted at 91.4%. Budgetary expenditures exceeded the same period last year to AZN 2.227 billion or 45.6%.

Investment expenditure budget in the first half of 2012 increased by 1.9 times, the costs of economic activity - by 42.8%, social protection and social security - 42.1%, defense - 41.6%, culture, art, information, and physical education - 36.9%, the judiciary, police and prosecutors - 28%, transport and communications - 19.4% Medical - 16.2%, agriculture, forestry farming, fishing, hunting and environmental protection - 6.3%.

During the reporting period, the socio-directed expenditures amounted to AZN 2.3 billion or 32.3% of the funds received to the state budget, which exceeds the same indicator for the corresponding period last year to AZN 370 million or 19.2%.

In Q1, science, education, health, sports facilities and other socio-cultural and domestic purposes were spent AZN 514 million.

The construction and reconstruction of infrastructure for water and gas, transport, irrigation, municipal infrastructure was aimed at AZN 1.476 billion, the performance of the state program on development of the Baku subway - AZN 118 mln, measures under the state program on socio-economic development of regions in 2009-2013 â€“ AZN 150 million, rehabilitation and reconstruction of water supply and sanitation â€“ AZN 154 million, improvement of water supply and reclaimed land â€“ AZN 156 million.

In addition, the investment costs allocated from the state budget for the construction and reconstruction of roads, water and land reclamation, agricultural, social and other infrastructure amounted to AZN 348 million through loans attracted by the Government of Azerbaijan from abroad.