Q1 state budget revenues fulfilled by 106.1%

Baku: Economics. State budget revenues for January-March 2014 has been fulfilled by 106.1%, said the Minister of Finance Fazil Mammadov at the meeting of the Cabinet of Ministers on outcomes of socio-economic development of the first quarter and duties laying ahead.

The minister said that AZN 1,762,900,000 of total AZN 4,482,700,000 came from Ministry of the Taxes, AZN 330.4 mln – from state Customs Committee, AZN 2,342,600,000 – from State Oil Fund.

Excluding transfers from SOFAZ, 36.74% of transfers came from oil-gas sector, 63.3% – from non-oil sector. Expenditures of the state budget was fulfilled by AZN 4,374,300,000 during the reporting period.

Social expenditures made 21.8% or AZN 954.3 mln of the budget expenditures, up AZN 58.2 mln or 6.5% from previous year. Compared to a year earlier, education expenditures rose 8.5%, health expenditures – 18.6%.

Mammadov added that AZN 3,125,900,000 was directed to the main capital from all financial sources, up 7% by contrast to a year earlier.