Azeri budget surplus tops $860m in Q1: govt
BAKU – Revenues of Azerbaijan’s state budget amounted to 2.768 billion manats ($3.503 billion), while expenses made up 2.087 billion manats ($2.641 billion) in January-March 2011, resulting in a surplus of $862 million, Finance Minister Samir Sharifov has said.
Addressing a quarterly government meeting on Tuesday chaired by President Ilham Aliyev, Sharifov also said budgetary revenues increased 13.2 percent and spending rose 5.5 percent in January-March in comparison with the first quarter of 2010.
Revenues of this year’s approved budget stand at 12.061bn manats (over $15.2bn), while expenses are estimated at 12.748bn manats ($16.1bn). Thus, the country is expected to post a budget deficit of 687m manats ($870m), or 1.7 pct of the gross domestic product, in 2011.
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