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Azerbaijan allocated 48% more funds to military expenditures in first half year

06 August 2008 10:31 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Foreign trade turnover of Azerbaijan increased by 4.1 times and exportation by 6.9 times in January-June of this year compared with the reporting period of last year, Minister of Finance Samir Sharifov said at Azerbaijani governmentâ€™s meeting on the outcomes of the first six months of 2008, APA-Economics reports.
The minister noted that currency resources increased by 80.5% or $5.8bn. in the reporting period and reached $13bn.
â€œIn the reporting period the investments directed to the nominal capital increased by 31.6 times owing to all the sources,â€ Sharifov said.
Samir Sharifov said that budget incomes increased by AZN 3.92bn. or by 41.8% compared with voted budget and reached AZN 10.484bn, budget expenditures increased by AZN 2.542bn. or by 29.8 compared with the voted budget and reached AZN 11.61bn.
â€œConsolidated budget incomes increased by 66.4% compared with the voted budget and reached AZN 17.465bn., consolidated budget expenditures increased by 25.3% compared with the voted budget and reached AZN 12.744,â€ Sharifov said.
The minister also noted that state budget income stood at AZN 4.81bn (111.3%), this is AZN 2.227bn or 86.3% up compared with the reporting period of last year.
â€œMinistry of Taxes fulfilled the income forecast 107.6%, this is AZN 955mln. or 49.3% up compared with the reporting period of 2007, State Customs Committee fulfilled the forecast 100.3%, this is AZN 197mln. or 53.8% up compared with the reporting period of last year,â€ he said.
To him, AZN1.63 billion were entered to the budget from non-oil sector though the Ministry of Taxes and it is AZN312 million or 41.5% more than 2007. AZN 290 million or 29.6% were transferred to the budget from State Oil Fund. AZN 29 million on extrabudgetary accounts of state-financed organizations were entered and it is AZN 16 million more compared to last year.
â€œBudget expenditures were AZN 4.95 billion and it is AZN 1.81 billion or 79.2% more than last yearâ€, the Minister said.
Sharifov added that budget expenditures on industry and construction were 2.8 times more compared to previous year, transport and communication 86.7%, municipal economy 70.8%, culture 50.5%, defense 48.4%, health 31.3%, education 27.9%, agriculture 26.4%, social protection and social security 26.3%.
â€œBudget revenues were AZN 8.707 billion within six months, expenditures were AZN 4.593 billion. There were AZN 4.114 billion surpluses in the budgetâ€, he said.