Azerbaijan’s budget surplus makes up 31 percent of GDP

“In January-June 2009, budget revenues totaled 4 billion manat and expenditures 437 million manat,” the ministry official said.

In total, 93.4 percent of the planned revenue figures was achieved 93.4 percent and expenditure figures 85 percent.

Nearly 1.627 million manat of the budget revenues were provided by the Taxes Ministry, 639 million manat - the State Customs Committee, 2 billion – State Oil Fund (SOFAZ), 2.5 million manat – State Property Committee, 46 million manat out-budget organizations financed from the budget and 16 million manat by various sources.

The budget spent about 1.279 billion manat or 28.8 percent of revenues to finance social measures.

Azerbaijan’s budget revenues are expected to total 12.177 billion manat and expenditures and 12.355 billion manat or 28.3 percent of GDP in 2009. The budget surplus is expected to be 178 million manat or 0.4 percent of GDP.

/Interfax Azerbaijan/