STATE BUDGET REVENUES AND EXPENDİTURES EXCEEDED FORECASTS

According to the official information of the Ministry of Finance, the income of the state budget of Azerbaijan for the first quarter of 2014 was 4482,7 mln. manats, the expenditures were 4374,3 mln. manats, e.g. there has been occurred budget surplus in amount of 108,4 mln. manats.

Revenues

The revenues of the state budget were executed for 4482,7 mln. manats instead of forecasted 4225,8 mln. manats or 106,1 percent (256,9 mln. manats more) during the first quarter of 2014. 

The Ministry of Taxes of Azerbaijan transferred 1762,8 mln. manats to the state budget executing the income forecast for 107,1 percent which is 117,3 mln. manats higher in comparison to the forecast, 239,5 mln. manats or 15,7 percent more in comparison to the same period of 2013. 

The State Customs Committee of the Republic of Azerbaijan has executed the forecast for 100,2 percent during the first quarter of 2014 and transferred 330,4 mln. manats, which is 40,9 mln. manats or 14,1 percent in comparison to the same period of the previous year. 46,9 mln. manats was transferred to the budget from other revenues which is 30,7 mln. manats or 2,9 times more in comparison to the same period of the previous year.  

2342,6 mln. manats was transferred to the budget from the State Oil Fund of the Republic of Azerbaijan.

Expenditures

The expenditures of the state budget for 1st quarter of 2014 was executed for 4374,3 mln. manats instead of forecasted 4233,3 mln. manats.  29,1 percent or 1271,9 mln. manats of the state budget expenditures was allocated from the state budget to funding social costs (labor payment fund, pensions and social benefits, medicines and food costs) during the 1st quarter of current year, which is 108,1 mln. manats or 9,3 percent more in comparison to the same period of the previous year.

According to functional classification for the 1st quarter of 2014, there was allocated 38,8 percent (111,5 mln. manats) more for defense costs, 31,0 percent (12,1 mln. manat) more for costs related with activities not included in culture, arts, information, physical training and other categories, 18,6 percent (17,4 mln. manats) more for healthcare costs, 16,0 percent (1,9 mln. percent (233,6 mln. manats) construction and natural fossils costs, 56,4 percent (22,6 mln. manats) more for housing and utilities services costs, more for court, law enforcement and prosecution costs, 8,5 percent (21,4 mln. manats) more for education costs and 1,4 percent (7,4 mln. manats) more for social protection and social security costs in comparison to the same period of the previous year.

During the first three months of the current year, there was allocated 731,3 mln. manats for construction and renovation of education, health, social, cultural and other socio-cultural and household facilities, as well as residential buildings and other social facilities of this kind and 1457,1 mln. manats for construction and renovation of energy, water supply, transportation, utilities, melioration infrastructure and other fields for state capital investment costs of the state budget.

Consolidated budget

The incomes of the state budget for the first quarter of 2014 were executed for 5433,3 mln. Manats, while the budget expenditures were executed for 4965,6 mln. manats, which is 59,6 mln. manats or 1,2 percent more compared to the same period of 2013.