July 21, 2014 13:18
Azerbaijani budget surplus at 2.1% of GDP in H1
BAKU. July 21 (Interfax) - The Azerbaijani budget posted a surplus of 615 million manat or 2.1% of GDP in H1 2014.
Revenue totaled 9.339 billion manat and spending amounted to 8.724 billion manat for a surplus of 615 million manat.
The plan for revenue was 101.6% fulfilled and spending - 94.7%
Tax revenue totaled 3.579 billion manat or 103.6% of the plan; revenues from customs duties was 732.8 million manat (100.2%); and transfers from the State Oil Fund were 4.884 billion manat (100.1%).
According to the Finance Ministry, budget spending on defense increased 24.5%, healthcare spending - 7.6%, transport and communications - 6.3%, housing and public utilities - 23.1% and education - 7.6%.
Spending on the social sector totaled 2.645 billion manat or 30.3% of all spending, which is 14.5% more than last year.
Capital investment by the state in construction and reconstruction of social and sports infrastructure and housing amounted to 1.057 billion manat and another 2.316 billion manat was invested in the construction and reconstruction of facilities for energy, water supply, gas supply, transport, communal and reclamation infrastructure.
The spending on projects in the Nakhchivan Autonomous Republic was 37.1 million manat in H1.
The 2014 budget targeted revenue at 18.384 billion manat and spending at 20.063 billion manat, for a deficit of 1.679 billion manat or 2.87% of GDP.
The official exchange rate on July 21 was 0.7843 manat/$1.
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