Azerbaijani budget deficit makes up 3% of GDP in H1

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Azerbaijani budget deficit makes up 3% of GDP in H1

BAKU. July 28 (Interfax) - Azerbaijan's state budget deficit totaled 424 million manat in the first half of 2009, or 2.97% of GDP, the Finance Ministry told Interfax.

Budget revenue totaled 4.862 billion manat in the half, up 1.1% from January-June 2008, while expenditures came to 4.438 billion manat, up 8.4%. The budget plan was fulfilled 93.4% for revenue and 85% for spending in the period.

The state budget is to have revenue of 12.177 billion manat in 2009, or 27.9% of GDP, expenditures of 12.355 billion manat, or 28.3% of GDP, and a deficit of 178 million manat, or 0.04% of GDP.

The official exchange rate on July 28 was 0.8041 manat/$1.