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Azerbaijan sees 34% and 59% growth in state budgetâ€™s Q1 revenues and expenses

16 April 2013 10:56 (UTC +04:00)

According to Ministry of Finance, the receipts were up 31% from AZN 3,565.3 mln-forecast, 33.9% - from previous year.

Ministry of Taxes transferred AZN 1,523.5 mln to state budget fulfilling the forecast by 103.2%, up AZN 47.2 mln from forecast, 9.6% - from a year earlier.

State Customs Committee transferred AZN 289.5 mln to the state budget fulfilling the forecast by 100.3%, up 15.0% compared wit a year earlier.

At the same time, AZN 16.2 mln was transferred to the state budget against AZN 6.3 mln forecasted on another receipts, up 2.6 times from forecast.

State Oil Fund transferred AZN 2,840.4 mln.

Expenditures of state budget were up 58.8% from a year ago. According to economic classification, AZN 1,164.0 mln or 25.8% of state budget expenditures was directed to financing of social expenses.

In accordance with the functional classification, the expenses for economic activity (NESF, Agrolizing, State Agency for Rural Credits under the Ministry of Agriculture, AMF) rose 2.1 times (AZN 49.5 mln), for industry, construction and mineral resources – 1.9 times (AZN 930.7 mln), defense spending- 1.5 times (AZN 100.0 mln), agriculture, forestry, fishery, hunting and environmental protection – 49.1% (AZN 29.1 mln), housing and communal services – 18.3% (AZN 6.2 mln), health – 13.2% (AZN 10.9 mln), judicial power, law-enforcement agencies and prosecutor’s office – 9.5% (AZN 16.2 mln).

AZN 1,913.0 mln was spent to public investment of state budget, up 1.9 times compared with a year earlier.

AZN 225.0 mln from used funds was directed to construction and reconstruction of education, health, social, cultural, sport and other socio-cultural and household objects, AZN 1,688.0 mln – to construction of energy, water supply, gas, road, water, air and metro transport, communal, melioration infrastructures and other spheres.

Consequently, in the first quarter of 2013, the incomes of consolidated budget were fulfilled in amount of AZN 5,573.5 mln, expenditures – in amount of AZN 4,906.0 mln.